Essay on Privacy In The Workplace - 1398 Words

You would think that employee privacy rights only apply to employees that you currently have but it really begins with the hiring process. Companies can reduce the number of labor related incidents during the first step of recruiting by setting up a cost-effective, yet reliable drug testing system. According to Kevin Troutman (2005), People who abuse drugs are a hazard to companies because they miss work, file more workers compensation claims, make errors, steal and create safety concerns for other employees. An employer needs to use caution when setting up their system by making sure they are following their states regulations and using a licensed third party facility to review the results. Unfortunately, a large percentage of†¦show more content†¦So what is an employer to do? A few options include using credit and criminal checks instead, having the candidate fill out a more detailed application, asking the candidate to provide past evaluations, or calling coworkers who w ill most likely not be familiar of the laws and therefore more willing to provide useful information (Dolan Media Newswires, 2005). The next thing to consider for protecting your business from litigation is to keep employees medical and disability records in a safe and confidential location. Highly sensitive records are protected by multiple federal regulations. The Americans with Disabilities Act (ADA) and the Family Medical Leave Act (FMLA) require that medical records be filed separately from other personnel records. ALL employers have some responsibility to be compliant with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). HIPAA covers the uses and disclosure of protected health information (PHI), individuals rights regarding PHI, and special rules for plan sponsors, employers, and service providers to plans. Your requirements vary depending on the type of health insurance policy you carry. To see what is required by your company, visit www.hhs.gov/ocr /hipaa. As a general rule, medical related problems cannot be used to fire or discipline an employee. Records should only be viewed by employees that have been educated about the laws and regulationsShow MoreRelatedPrivacy in the Workplace1140 Words   |  5 PagesExplain where an employee can reasonably expect to have privacy in the workplace. Privacy in the workplace is very hard to get. Advancements in technology have been made that allow companies to monitor every aspect of an employee use of their systems. This is very evident if you have a job that involves you to be on the telephones. Companies are able to listen to each phone that is made, see every website that you have visited and read any email you have received. For example, I used to workRead MoreEssay on Privacy in the Workplace2455 Words   |  10 PagesPrivacy in the Workplace Introduction Technology has developed in leaps and bounds over the past few decades. The case is that the law always has difficulty keeping pace with new issues and technology and the few laws that are enacted are usually very general and obsucre. The main topic of this paper is to address the effect of technology on privacy in the workplace. We have to have an understanding of privacy before trying to protect it. Based on the Gift of Fire, privacy has three pieces:Read MoreEthics, Privacy in the Workplace2391 Words   |  10 Pagesargument – â€Å"for† the notion that an individual’s privacy is more important than any other considerations in the workplace. Workplace scenarios will be outlined including job applications, storage of personal information, Internet and email, information technology effects on privacy, workplace policies and procedures and medical privacy. Differing ethical theories will be applied to both sides of the argument. The Individual’s Privacy in the workplace Getting the job. The story is often heardRead MorePrivacy in the Workplace Essay1624 Words   |  7 PagesPrivacy in the Workplace In recent times our right to privacy has been under fire, particularly in the workplace. With the fear of terrorists in todays world, we have been willing to sacrifice some of our individual rights for the rights of a society as a whole. A majority of these changes have taken place since September 11, 2001, in an attempt to prevent future terrorist attacks. New legislation, such as the USA Patriot Act, which decreases the limitations on the federal governments abilityRead MoreInvasion of Privacy in the Workplace2539 Words   |  11 PagesTitle: Invasion of Privacy in the Workplace OMM 640: Ethics and Social Responsibility Instructor: David Bouvin Debbie Barrow May 07, 2012 Do you feel like your workplace is your safe haven? Is your privacy invaded in your workplace? Can employers read your e-mail; monitor your blog or social network post. Employees peeping over your shoulder (sneakily), or even putting up a surveillance camera, as an employee, we should notRead More Privacy in the Workplace Essay2057 Words   |  9 PagesPrivacy. There seems to be no legal issue today that cuts so wide a swath through conflicts confronting American society: from AIDS tests to wiretaps, polygraph test to computerized data bases, the common denominator has been whether the right to privacy outweighs other concerns of society†¦ This quote from Robert Ellis Smith explains, in one sentence, the absolute need to ensure privacy in the workplace. One of the most interesting, yet controversial, areas concerning public personnel is employeeRead MoreEssay on Workplace Privacy3099 Words   |  13 PagesWorkplace Privacy Background As a director for the American Red Cross of Santa Monica, not only am I constantly faced with policy and personnel conflicts, I am also responsible for finding solutions to those conflicts. Recently, I was charged with the task of finding a solution to a problem we (as a chapter) had never dealt with before. The American Red Cross is an apolitical organization. During the recent elections, a supervisor in my office sent out emails to many ofRead MoreElectronic Monitoring and Workplace Privacy1774 Words   |  8 PagesElectronic Monitoring and Workplace Privacy Workplace privacy is one of the biggest issues facing businesses today. Do you feel like you are being watched all the time, all your e-mails being read, and every key stroke is being monitored by your boss? Some people feel this way and that is why privacy in the workplace is a problem with many businesses today. Employees feel like they are not being trusted, or feel the company invades on their personal privacy, or violates their fourth amendmentRead MorePrivacy Law Of The American Workplace1280 Words   |  6 PagesIn this article Evans summarized privacy law in the American workplace, and also scholar Mathew Finkin painted a dramatic picture of the surveillance under which many many American employee work. Moreover, Finkin mentioned in this article that 34% of American employee are monitored continuously with regard to their email and internet usage privacy. In addition, He also pointed that The problem of employee privacy and productivity becomes more significant as the boundaries between formal and informalRead MoreRecommendation Report : Workplace Privacy Essay717 Words   |  3 PagesDixon Subject: Recommendation Report – Workplace privacy Date: March 2nd, 2015 The purpose of this memo is to present my research and recommendations regarding workplace privacy and the monitoring of current, and new employees’ and their use of company owned equipment at work. Summary Employee privacy and the rights of employers are often debated, but to reduce an employee’s confusion and to ease the company’s potential liability, a thorough workplace policy should be in place for employees

The Economic Impact On The Economy - 2326 Words

The economy is most develop in the US and Europe. When the crash happened in 2008, Europe economy fell into recession extremely. Until today, it has yet to fully recover. Compare with the US that remains the economic giants. After nearly 10 years of economic recovery, we can see long term effects in banking, politics, housing and employment. So, what has been going on politically and economically in Europe? And what will we estimate about the economy of the US and Europe prospect 5 plus years from now? The right answers are not simple, so let me explain. First at all, what has been going on politically and economically in Europe? How does it compare with the US? We knew about the finance and economic crash of 2008, the worst in over 75†¦show more content†¦So the most basic way to revitalize an ailing economy is to ease monetary policy, as the US Federal Reserve did in the fall, but interest rates in the US and Europe is already extremely low, and central banks have already injected unprecedented amounts of liquidity into the credit markets. Thus, the impact of any further easing will probably be small. The slowdown in Europe is expected to be every bit as severe European consumers is spending less to the same reasons American consumers are. The financial sectors of European countries, relative to those countries’ GDPs, have suffered even more damage than that of the US. According to the media, the British government reported a contraction of its economy last fall, and the Eurozone countries are now officially in rece ssion. We know about the damaged Western banks, which had consistently supplied credit to business in the developing world, have abruptly stopped providing it. Eastern European countries that had been running exceptionally large current account deficits and had built up substantial foreign debts are particularly hurting. Hungary, Latvia, and Ukraine are prominent example, and Hungary and Ukraine have already secured emergency loans from the IMF. In Russia, the plunge in oil and other commodity prices has caused a near collapse of the rubber and of local share prices. The government of President Dmitry Medvedev has

IFIC Bank Ltd. Banking Activities and Asset Liabilities Free Essays

string(22) " record profit of Tk\." The topic of dissertation was selected upon consultation with course instructor of respective department. The main aim of this report is to find out the operational activities and the financial trend of IFIC bank Ltd. From this analysis we find out the financial situation and this analysis from the annual report issued by IFIC Bank Ltd. We will write a custom essay sample on IFIC Bank Ltd.: Banking Activities and Asset Liabilities or any similar topic only for you Order Now from the year 2005 to 2009, which was the main source of information. INTRODUCTION Motivation of the Report: We are the students of BBA program of Daffodil International University. As we are studying the Principle of Banking in this semester, we have to gather huge amount of knowledge about the Banking activities.To acquire practical knowledge about the banking activities our course instructor has motivated us to do this type of assignment. That’s why we have motivated to prepare this report. Objective of the Report: A study in banking activities and asset and liabilities of Prime Bank Limited to find out its activities and performance in terms of anticipated customer’s requirements and provide them with the service, which meet their market, quality and service need. †¢ To give a brief about the history and information of this bank. †¢ To inform about the bank mission and vision of IFIC Bank Limited. †¢ Setting a general idea about operation procedures and functions of AB Banking Limited.†¢ To explain about the services that the organization are offering to its customers. To have an idea about the different techniques of banking operation. Methodology The study is based on secondary data methodology of this final report is given below: Data regarding the organization profile collected in the following ways: †¢ From the organization’s Annual report. †¢ Online information. †¢ By interviewing the organization’s officials. †¢ Observational method will also be used in this study. Limitation of the study: Any assignment paper needs high degree of involvement regarding collection of information, creation of database, literature review and analysis of data. In this study, we have tried our level best to collect the related information within the time constraint. SOURCES AND USES OF FUNDBanks gets profit by investing their collected funds. Depositors provide major part of the bank fund, as such; banks must invest reasonable efforts to attract money of the depositors. Bank can also collect fund from different other sources. On the other hand, providing loan is the largest head to use funds of the commercial bank. Managing the flow of funds is the basic concern of banks. So, the management of bank always keeps closer look on the inflow’s and outflow’s of funds. BACKGROUND OF IFIC BANK Portrait of the Bank International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company incorporated in the People’s Republic of Bangladesh with limited liability.It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full fledged commercial bank. The Government of the People’s Republic of Bangladesh now holds 32. 75% of the share capital of the Bank. Directors and Sponsors having vast experience in the field of trade and commerce own 11. 42% of the share capital and the rest is held by the general public The Bank covers by its activities all the important trading and commercial centers of the country. As on November 22, 2010 it had 88 branches within Bangladesh. Bank’s Mission Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make our position unique in giving quality service to all institutions and individuals that we care for. ?We are committed to the welfare and economic prosperity of the people and the community, for we drive from them our inspiration and drive for onward progress to prosperity. ? We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary. ? In an intensely competitive and complex financial and business environment, we particularly focus on growth and profitability of all concer ned. Business Objectives †¢ Make sound investments. Customer satisfaction first †¢ Meet capital adequacy requirement at all the time. †¢ Ensure 95% recovery of all advances †¢ Ensure a satisfied work force. †¢ Focus on fee-based income. †¢ Adopt an appropriate management technology. †¢ Install a scientific MIS to monitor Bank’s activities 2. 5 Capital and Reserves The Bank started with an Authorized capital of Tk. 100 million in 1983. Paid up capital at that time stood at Tk. 71. 50 million only. Over the last 19 years, the authorized and paid-up capital has increased substantially. The paid capital stood at Tk. 406. 39 million as on December 31, 2001. The Bank has built up a strong reserve base over the years.In last 19 years its Reserves and Surplus have increased overly. As against Tk. 21. 20 million only in 1983 Reserve and surplus increased to Tk. 622. 53 million in 2001. This consistent policy of building up Reserves has enabled the Bank to maintain a better adequacy ratio as compared to others. With the active support and guidance from the Government, the bank has been showing a steady and improved performance. In its fifteen years operation, the bank has earned the status of leading in terms of both business and goodwill. Starting modest deposit of only Tk. 863. 40 million in 1983 the Bank has closed its business with Tk. 17616. 68 million of deposit as on December 31, 2001.The annual growth rate has mostly been higher compared to both banking sector growth and individual growth rates achieved by others. As against a profit of Tk. 21. 94 million in 1984, the Bank earned a record profit of Tk. You read "IFIC Bank Ltd.: Banking Activities and Asset Liabilities" in category "Papers" 248. 00 million for the year ended on December 2001. Operation Abroad: Joint Venture ? Bank of Maldives – In 1983, IFIC Bank set up a joint venture bank names Bank of Maldives Limited (BML). It is the first bank of Maldives. In 1992, as per contract, IFIC Bank handed over the management of BML to Maldives. ? b. Oman-Bangladesh Exchange – To facilitate remittance by Bangladeshi in Oman, IFIC bank set up a money exchange company as a joint venture, named Oman-Bangladesh Exchange. Branch abroad Pakistan Branch – IFIC Bank opened its first overseas branch in Karachi, Pakistan. It opened its second branch at Lahore in Pakistan. ? Nepal Bangladesh Limited – In December 1993, the Bank got permission to establish a joint venture bank with 50% equity capital in Nepal. The Bank known as, Nepal Bangladesh Ltd. came into operation in June 1994. Human Resource Development The Bank has a Human Resource Development ; Research Department to develop human resources internally. The Academy is equipped with professional library, modern training aids professional faculty and other facility. It is now under Personnel ; Human Resource Development ; Research Division.The Academy conducts regularly foundation courses, specialized courses and seminars on different areas of banking to take care of the professional needs. Total manpower stood at 2237 as on September, 2010 Product Service Information I. Finance/Loans: ? Cash Credit ? Secured Overdraft ? Bank Guarantee ? Long Term and Short Term Financing ? House Building Loan ? Car Loan II. Foreign Exchange ? Non Resident Foreign Currency Account (NFCD) ? Non Resident BDT Deposit Account (NRTA) ? Resident Foreign Currency Deposit Account (RFCD) ? Foreign Currency Deposit Account ? Money Gram ? UAE Exchange ? Placid Express III. Deposit Scheme ? Savings Bank Account (SB A/C) ? Current Deposit Account (CD A/C) NCC Bank Special Savings Scheme (SSS) ? Fixed Term Deposit (FDR) ? Short Term Deposit (STD) ? Money Double Deposit Programs ? Premium Term Deposit ? Interest Earning Term Deposit Retail Banking [pic] Retail Banking is mass-banking facility for individual customers to avail banking services directly from their wide branch net work all over the country. IFIC provide one stop financial services to all individual customers thorough their innovative pr oducts and services to cater their need. With a view to provide faster and more convenient centralized online banking services, most of IFIC branches have been brought under the real time online banking system.IFIC Bank offers a wide variety of deposit products, loan product and value added services to suit consumer banking requirements. Products and services for individual customer include. Consumer finance, deposit product, card, NRB account, student File, SMS banking. Deposit Product IFIC bank offers a wide variety of deposit products to meet consumer financial needs from current and savings account to fixed deposits and pension schemes each account is designed to give Consumers the best value for their money. Saving account [pic] IFIC are offering the most attractive interest rate of 5% on consumer savings account. [pic]Initial Deposit: Tk. 500. 00 at rural branches ; Tk. 000/- for urban branches which should be considered as minimum balance. [pic]Competitive Interest Rate [pic]No extra hidden charge [pic]Debit Card facility [pic]SMS Banking Facility [pic]ATM facility [pic]Online banking facility [pic]Utility payment service [pic]Transfer of fund from one branch to another [pic]Opportunity for availing locker facility Current Account: [pic] Minimum required balance Tk. 2000/-. Debit Card facility ATM facility Online Banking facility SMS Banking Facility Utility payment service Transfer of fund from one branch to another Opportunity for availing locker facility No extra hidden charge Fixed Deposit Receipt (FDR)Fixed deposit gives you higher interest than other forms of deposits. IFIC Bank is offering competitive interest rate in FDR: Fixed Deposits Rate FDR (3 Months ; above) [pic]Less than Tk. 1. 00 crore8. 25% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 50% [pic]Tk. 5. 00 crore and above9. 25% FDR (6 Months ; above) [pic]Less than Tk. 1. 00 crore8. 25% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 50% [pic]Tk. 5. 00 crore and above9. 25% FDR (1 Year) [pic]Less than Tk. 1. 00 crore8. 00% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 25% [pic]Tk. 5. 00 crore and above9. 50% Pension Savings Scheme (PSS) [pic]IFIC Bank is pleased to offer 3(three) / 5(five) Years Monthly Savings plan with higher return and monthly pension option at maturity. Monthly Installment option and Payment after maturity, now being offered under the scheme, are as under: |Monthly Instalment |3 years Terms |5 years Terms | | |Amount payable After maturity |Amount payable After maturity | |Tk. 500 |Tk. 20,781 |Tk. 38,134 | |Tk. 1,000 |Tk. 41,562 |Tk. 76,268 | |Tk. 2,000 |Tk. 83,125 |Tk. ,52,536 | |Tk. 3,000 |Tk. 1,24,687 |Tk. 2,28,804 | |Tk. 5,000 |Tk. 2,07,812 |Tk. 3,81,340 | |Tk. 10,000 |Tk. 4,15,624 |Tk. 7,62,680 | |Tk. 15,000 |Tk. 6,23,435 |Tk. 11,44,020 | |Tk. 20,000 |Tk. 8,31,247 |Tk. 15,25,360 | |Tk. 25,000 |Tk. 10,39,059 |Tk. 19,06,699 | |Tk. 0,000 |Tk. 20,78,118 |Tk. 38,13,399 | Consumer can receive full payment at maturity or option for a pension on monthly basis to meet their needs. The scheme entitles consumer to have Income Tax Rebate to make their savings even more valuable. Income Tax Rebate: Monthly installments of IFIC PSS will qualify as allowable investment in Yearly Income Tax Return. The account under this scheme will also be exempted from deduction of tax on interest payable at source. However, If any tax or other Govt. Levy is payable under this Scheme in future the same shall be deducted from the account. Credit Facility: The A/c holder can avail loan / Secured Overdraft (maximum 80% of the deposited principal amount but not less than Tk. 20, 000/-) against lien of the PSS account to meet the personal need, educational expenses of his/her children or for medical treatment. Double Return Deposit Scheme (DSS) Enjoy higher return on your valuable Investment IFIC Bank is pleased to offer 8 ? Years – Double Return Deposit Scheme (DRDS) with special feature: |Minimum Deposit |Term |Benefit | |Tk. 25,000 |8 ? Yrs. |Double return after 8 ? Years. | | | |(subject to deduction of Tax ; Excise duty) |Special Feature: If consumer require to have their money back after completion of 1(one) year, IFIC will not deprive consumer from interest for pre-encashment. For each completed years and subsequent completed years you will get interest @8. 50% p. a. Credit Facility: You can avail Credit facility up to max. 90% of the deposited amount against registering Lien on Instrument with the issuing Branch. Monthly Income scheme (MIS) Deposit once and Enjoy Higher Return on Monthly basis |Deposit |Term |Gross Monthly Income | |Tk. 50,000 or multiple |3 Yrs. |Tk. 350. 00 (i. e Tk. 700. 00 per lac) | pic]If consumer are 18 years of age or above , consumer are welcome to apply for keeping deposit under this Deposit scheme. If they are not yet 18 , become so and soon. [pic]Can be opened in Joint names or in the name of any Institutions. [pic]Consumers will require opening / having a CD/SB Account with the Branch. [pic]Consumers can open more than one account in your name in any branch Credit Facility: Consumers can avail loan/overdraft facility against registering lien on the MIS account as per the Bank’s prescribed rates and rules. Monthly Income will be paid after deduction of Tax/Excise duty or any other levy as may be decided by the Government of Bangladesh from time to time. Special notice deposit (SND) AccountSpecial Notice deposit (SND) Account is opened for any individual form financial institutions. Initial Deposit for opening account Tk. 25,000/- (Min. ) SND interest Rate [pic]Less than Tk. 1. 00 crore2. 00% [pic]Tk. 1. 00 crore and above but less than Tk. 25. 00 crore2. 50% [pic]Tk. 25. 00 crore and above but less than Tk. 50. 00 crore4. 00% [pic]Tk. 50. 00 crore and above but less than Tk. 100. 00 crore2. 00% [pic]Tk. 100. 00 crore and above 2. 00% Three Years Deposit Plus (3YDP) Enjoy higher return on your valuable Investment IFIC Bank is pleased to offer three years deposit plus (3YDP) scheme with special feature |Deposit Amount |Term |Amount payable after maturity | |Tk. 0,000 or its multiple |3Yrs. |Tk. 64,183/- or its multiple | | | |i. e. Tk 1,28,367/- per Lac | | | |(subject to deduction of Tax ; Excise duty) | Special Feature: If Consumers require to have your money back after completion of 6(six) months, IFIC will not deprive Consumers from interest for pre- encashment. For each completed 6(six) months and subsequent completion of 6(six) months Consumers will get interest @8. 50% p. a. compounded at half yearly rest. (Effective Rate 8. 68% p. a. )Eligibility: If Consumers are 18 years of age or above, he or she are welcome to apply for keeping deposit under this deposit scheme. if they are not yet 18. become so and soon Can be opened in joint names or in the name of any institution Can be opened in the name of Minor under the signature of the Guardian Credit Facility: Consumers can avail credit facility up to max 90% of the deposited amount against registering lien on instrument with the issuing branch. Loans and Advances: SME Banking [pic] The growth of Small and Medium enterprises (SMEs) in terms of size and number has multiple effects on the national economy, specifically on employment generation, GDP growth, and poverty alleviation in Bangladesh.At present, Small ; Medium Enterprise sector is playing a vital role in creation of new generation entrepreneurs and ‘Entrepreneurs Culture’ in the country. Experience shows that borrowers of small enterprise sector prefers collateral free loan since normally they cannot offer high value security to cover the exposure. To facilitate SME sector of the country, IFIC Bank provides collateral free credit facilities to the sma ll ; medium entrepreneurs across the country whose access to traditional credit facilities are very limited. IFIC are offering 15 different products for selected target groups, such as – Easy Commercial Loan, Retailers Loan, Muldhan Loan, Women Entrepreneur’s Loan (Protyasha), Transport Loan, Working Capital Loan, Project Loan, letter of Contractor’s Loan, Bidder’s Loan,Working Capital Loan, Project Loan, Letter of Guarantee, Letter of Credit Loan against Imported Merchandize (LIM), Loan against Trust Receipt etc. Working Capital Loan: Business Enterprises (other than public Limited company) engaged in manufacturing/trading business are eligible to avail working capital Loan to meet day to day expenses for processing of manufacturing and selling product. Interest Rate: 14. 00% p. a with quarterly rest or as revised from time to time Loan processing Fess: Tk. 2000 Service Charge: 0. 25% on loan amount Min; Tk 5000 Required documents 1. One copy passport size photograph of intending borrowers as well as guarantors 2. Valid trade license 3. TIN certificate 4.Bank statement for last six months 6. Financial statement 7. Original Title deed 8. Bia dessd 9. CS, SA, RS and Hal Parcha 10. Mutation with DCR 11. Up to date rent receipt 12. Site map tax receipt 13. CIB report of the borrower Women Entrepreneur’s Loan (Protyasha) Any business purpose loan for small and medium sized business, woned by women entrepreneurs. Eligibility: Woman Entrepreneurs having two years experience in the same line of business. Monthly cash flow to support proposed loan installment Nature of the Loan: Term Loan Loan size: Minimum Tk 50000 and Maximum tk 3 lac Repayment: Monthly repayment facility Security: No collateral securityLoan Period: Maximum 18 (Eighteen) months for loan amount of Tk. 50,000 Maximum 24 (Twenty four) months for loan upto Tk. 1. 00 lac. Maximum 36 (Thirty six) months for loan upto Tk. 3. 00 lac. Interest Rate: 15. 00% p. a. with quarterly rest or as revised from time to time. Loan Processing Fees: Tk. 500/- to be realized. Service charge:. 25% on Loan amount, Max Tk 500 Penal Interest: Additional 3% on the overdue over limit amount, if any Required Requirement 1. One copy passport size photograph of borrower/ Partners as well as guarantor(s). 2. Copy of National Identity Card. 3. Copy of valid Trade License. 4. Declaration of Net Worth of the borrower. 5.Duly signed and crossed post dated cheques in favour of Bank branch for each instalment and one undated cheque for full loan value including full interest supported by memorandum of deposit of cheques. 6. Financial statement. 7. Up to date clean CIB report. 8. NOC from Directorate of Environment, where required. Transport Loan To purchase of Road/Water transport for commercial use individual, business enterprises (other than public limited company) engaged in transport business at least two years experience are eligible for transport loan. Interest Rate: 14. 75% to 15. 50% p. a. with quarterly rest or as revised from time to time Loan processing fees: 1. 00% on loan amount maximum tk. 10000 Service Charge: . 0% on loan amount Penal Interest: Additional 2. 00% p. a. on the overdue amount, if any Required Requirement 1. One copy passport size photograph of intending borrower(s) as well as guarantor(s) 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months 5. Submission of Financial statement 6. Quotation of vehicle accepted by the intending borrower 7. Original Title Deed of the property 8. Bia Deed 9. CA, SA, RS ; Hal parcha 10. Mutation with DCR 11. Upto date rent receipt 12. Municipal Tax Receipt 13. Non-encumbrance certificate 14. No objection/permission from competent authority for mortgage of property(ies) where required 15.CIB report on the borrower 16. Partnership deed (in case of partnership firm) registered with RJSC ; Firm along with letter of partnership on Bank’s prescribed format 17. Memorandum Articles of Association along with certificate of incorporation duly certified by RJSC and resolution from the Board of Directors (in case of private limited company). 18. Copy of upto date list of directors (Form XII) certified by RJSC Retailers Loan To meet working capital finance for any small and retail entrepreneur with successful business record, having a valid trade license are eligible for retailer’s loan. Eligibility: Successful Business Record and Valid trade licenseNature of the loan: Term Loan Repayment: Monthly Repayment facility Security: No collateral security Loan size: Maximum Tk 2 Lac. Loan period: 12 To 36 Months Interest Rate: 16%p. a with quarterly rest or as revised from time to time Loan Processing Fees: Tk 500 up to Tk 1000 abouve 1 lac. Service Charge: 1% on Loan Amount Penal Interest: Additional 2% p. a on the overdue amount If any Required Requirement 1. One copy passport size photograph. 2. Copy of Trade License 3. Declaration Net worth 4. Duly signed crossed post dated cheque in favour of bank branch for each instalment one undated cheque for full loan value including full interest. Bidder’s Loan:Individuals, business enterprises (other than public limited company) engaged in construction and supply business can avail Bidder’s loan for issuing Payment Order/Demand Draft etc. to participating in tenders. Interest Rate: 15. 50% p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 2000 Service Charge: 0. 25% on loan amount minimum Tk 5000 Panal Interest: Additional 2. 00%p. a on the overdue amount. Required Documents Required Requirement 1. One copy passport size photograph of Proprietor/Partners/ Managing Director of the company as well as guarantors(s). 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months. 5. Financial statement. 6.An under taking from the borrower to the effect that all PO/SDR/DD (except the successful one) issued under the limit shall be deposited to the branch for credit to the relevant loan General Account 7. Original title deed 8. Bia deed 9. CS, SA, RS ; Hal Parcha 10. Mutation with DCR 11. Upto date rent receipt 12. Site Map/Municipal tax receipt 13. Non-encumbrance certificate 14. NOC from concerned authority for creation mortgage where applicable 15. CIB report of the borrower 16. Partnership deed along with Letter of Partnership on Ban’s prescribed format 17. Memorandum ; Articles of Association with certificate of incorporation duly certified by RJSC 18.Certified copy of upto date list of directors (Form XII). Commercial House Building Loan: Individual, business enterprises having commercial plot are eligible for construction of commercial building. Interest Rate: 13. 00%p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 5000 upto 25 lac Tk 10000 above 25 lac Service Charge: 0. 50% on loan amount Penal interest: Additional 2. 00%p. a the overdue amount. If any Required documents: 1. one copy passport size photograph of Proprietor/Partner/Managing Director as well as guarantor(s) 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months 5. Financial statement 6.Original Deed 7. Bia deed 8. CS, SA, RS ; Hal parcha 9. Mutation with DCR 10. Upto date rent paid receipt 11. Site Map 12. Non-encumbrance certificate 13. Approved plan for construction from the competent authority 14NOC from he concerned authority for creation of mortgage, where applicable 15. Estimated cost of construction by a Civil Engineer 16CIB report of the borrower 17. Registered partnership deed along with letter of partnership on Bank’s prescribed format 18. Memorandum Articles of Association along with certificate of incorporation duly certified by RJSC 19. Certified copy of upto date list of directors (Form XII). Contractor Loan:Individual, business enterprises (other than public limited company) engaged in construction and supply business are eligible for secured over draft to execute work order awarded by Govt. /Semi Govt. Autonomous Bodies. Interest Rate: 15. 50%p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 2000 Service Charge: 0. 25% on loan amount Penal interest: Additioanl 2. 00%p. a the overdue amount. If any Required documents: 1. Onecopy passport size photograph of intending borrower(s) as well as guarantors(s). 2. Valid Trade License 3. Copy of valid enlistment certificate 4. Bank statement for last 6 (six) months 5. Financial statement 6. TIN certificate 7. CIB report of the borrower 8.Partnership deed registered with RJSC Firm 9. Letter of partnership in Bank’s prescribed format 10. Memorandum ; Articles of Association with certificate of incorporation duly certified by RJSC 11. Copy of work order awarded with copy of terms of agreement 12Original title deed 13. Bia deed 14. CS, SA, RS ; Hal Parcha 15. Mutation with DCR 16. Upto date rent receipt 17. Site Map/Municipal tax receipt 18. Non-encumbrance certificate 19. NOC from concerned authority for creation mortgage where applicable Easy commercial Loan: To meet business requirement of individual business enterprises (other than public limited company) against pledge of financial instruments i. e.FDR, ICB Unit Certificate, WEDB, NFCD, PSS Account, MIS ; Share Certificates ; any other Govt. security eligible for credit facilities. |Interest Rate | |IFIC Bank FDR |2. 00% above the FDR Rate but not less than 10. 50% p. a. with | | |quarterly rest or as revised from time to time. | |Other Banks FDR |2. 00% above the Other FDR Rate but not less than 10. 50% p. a. | | |with quarterly rest or as revised from time to time. | |ICB Unit certificate, WEDB ; and other |13. 00% p. a. ith quarterly rest or as revised from time to time. | |Financial Instruments. | | |NFCD |13. 00% p. a. with quarterly rest or as revised from time to time. | |Pension Saving Scheme |13. 00% p. a. with quarterly rest or as revised from time to time. | |MIS |13. 00% p. a. with quarterly rest or as revised from time to time. | |Share |13. 00% p. a. with quarterly rest or as revised from time to time | Loan Processing Fees: Tk 500 Penal Interest: Additional 2. 00% p. a on the over due amount Required Documents: 1. Trade License 2. CIB report of the borrower 3. Memorandum and Articles of Association along with certificate of incorporation and resolution from Board of Directors of the company. 4. Deed of Partnership along with letter of partnership on Bank’s prescribed format (for partnership firm). Foreign Trade Financing: i. Export trade financing ii. Import trade financing Export Trade Financing: Export L/C operation is just reverse of the import L/C operation. For exporting goods by the local exporter, Bank may act as advising bank and negotiating for the exporter. As a negotiating Bank, it receives documents from the foreign importer and hand it over to the exporter.Sometimes it adds confirmation on the L/C on request from the opening Bank. By adding confirmation it assumes the responsibility to make payment to the exporter. As negotiating Bank, it negotiates the bills and other shipping documents in favor of the exporter. That is, it collects proceed of the export-bill from the drawer and credits the exporter’s account for the same. Sometimes the banks purchase the bills at discount from the local exporter and waits till maturity of the bill. When the bill matures, Bank presents it to the drawer to Ancash. In our country, export and import operations of Bank is very much related with one another because of use on Back to Back L/C.Most of the L/C opened is Back to Back L/C and maturity of payment for Back to Back L/C is set in such that it can be paid our of export proceeds. So export and import sections works as one unit. These two operations can hardly be separated from one another in the branch. Exporters need finance in the following manner: †¢ Pre-shipment Finance. †¢ Post-shipment Finance. 1. Pre-shipment Finance: The exporter may avail of facilities during pre-shipment stage in the following ways: i. Back-to-Back Credit. ii. Packing Credit. i. Back-to-Back Credit: Under this arrangement IFIC Bank finances an export by opening a letter of credit on behalf of the exporter who has received a letter of credit form the overseas buyer but is not the actual manufactures or producers of the exportable goods. The letter of credit is opened in favor of the actual producer or supplier within or outside the country. Since the second letter of credit is opened on the strength of, and backed by, another letter of credit it is called â€Å"Back- to-Back Credit†. The need for a back-to-back credit arises because the beneficiary or the original letter of credit may have to procure the goods from the actual producer who may not supply the goods unless its payment is guaranteed by IFIC Bank in the form of a letter of credit. The supplier is generally paid after negotiation of the documents. Since this type of financing is somewhat risky, IFIC Bank sometimes asks for collateral security before opening letter of credit.The back-toback letter of credit must confirm to the terms and conditions of the original letter of credit. Back-to-Back L/C condition: Security †¢ Lien and physical possession of export L/C in favor of the Bank (affixing lien mark on it). †¢ Imported items will be stored in a bonded warehouse under joint and effective control of bank and customs authority after clearing through the approval C; F agent. Other conditions †¢ Drawing to draft clause †¢ Import of raw materials in proportion to the working capacity and convenience of the factory †¢ Treatment of interest †¢ Undertaking must be given by the party in case of any failure to export the goods †¢ Time of opening L/C and negotiation within specific periodBack-to-Back L/C shall be opened only in the currency in which export L/C would be receive to avoid loss due to exchange fluctuation ii. Packing Credit: Packing Credit covers the credits extended by IFIC Banks to the exporters prior to the shipment of the goods. Such credit is granted to the exporter for procurement and processing of raw materials, manufacturing of finished products, packing and transporting goods meant for export to foreign countries. Such facility is allowed to an e xporter just at a time when he has the foreign buyers order by the way of confirmed export letter of credit or a firm contract. When the order is executed, the packing credit gets paid out of the proceeds of the bill drawn on the foreign buyer. Post Shipment Finance: Post shipment credit is given to the exporters by banks after the actual shipment of the goods. The necessity for post shipment credit arises because the exporters who have shipped goods have to wait for a long time for receiving payment from the overseas buyers; the period of waiting depends on the terms of payment. The exporters need funds to carry on his normal export activities. IFICBL are the natural source to seek the finance for these activities. IFICBL generally finance the exporters at post shipment stage on verification of the credit worthiness and financial soundness of both the buyers and the sellers. Import Finance Trade:International trade takes place between sellers and buyers located in different countries. The parties to a trade transaction are not always known to each other. Even if they are known to each other the seller may not have full confidence in the credit worthiness of the buyer or the buyer may not like to pay before he actually receives the goods. In Letter of Credit worthiness is substitute for the credit worthiness of the importer. Under a banker’s Letter of Credit, the issuing bank (IFICBL) gives a written undertaking on behalf of the buyer that the bank will honor the obligation of payment or acceptance as the case may be, on presentation of stipulated documents.Importer bank issue the Letter of Credit at a margin prescribed by the Government. This margin varies to commodities to commodities. According to the Govt. instruction bank does not generally issue the Letter of Credit less than at 50% margin. IFICBL follows this margin prescribed by Government strictly. These are: †¢ The L/C should irrecoverable, unrestricted valid and preferably confirmed. †¢ The credit worthiness of the importer and his import performance are to be invariably ascertained. Similarly, credit worthiness and solvency of the buyer and seller also be enquired through foreign correspondence. †¢ In case of pledge â€Å"Banks affective Control’ should maintained. The exporter documents should be carefully scrutinized at the time of negotiation to ensure with the terms of the L/C. Procedure for sanction of Post-shipment credit under document Negotiation: The usual method of providing finance at the post-shipment stage is negotiation under Letter of Credit. In this regard before scanting credit of undertaking IFICBL, carefully verified following points for negotiation documents: †¢ The documents should present for negotiation before expiry of the credit. In the period of negotiation before is specially mention in the documents should not be negotiated beyond that period. †¢ The amount of the bill should not exceed the amount authorized in the L/C. All the documents asked for in the L/C have been submitted and those are prima-facie in order. Operation Activities for Import Section: Officer in L/C opening desk process L/C application. Proposal for opining L/C (Cash) being prepared by the officers: For Internal Approval: It is made for those importers who are enjoying L/C limit facility for a period of 12 months approval by the Head Office. For Head Office Approval: Proposal made on case to case basis in a detail format for, those importers during their initial 3 to 6 months period. Satisfactory performance in the account during the period upgrade them to avail full fledge credit line on 12 months basis. Obtain charge documents: †¢ Negotiating with the importer margin fixation. Negotiate with the importer for fixation for made of retirement of bills/PAD. †¢ Obtain information about the market ability and gathering local price level of the Commodity to be imported. Next Steps are to open the letter of credit: †¢ An L/C number is provided. †¢ Opening charge or commission recovered. †¢ Charge and Liability vouchers are passed. †¢ Preparation and checking of L/C body in accordance with pro-forma invoice (PI) or indent. Sanctioning L/C by two authorized officers and giving go ahead for the transmission of the terms. Prepare credit line proposals for importers: †¢ Lodge the documents in P. A. D. †¢ Notify the importer to release the original documents. Arrange the retirement of the original documents after recovery of dues in cash against related P. A. D. †¢ Issue shipping guarantee against non-negotiable copy documents. Retirements of P. A. D are also made through LIM: †¢ If arrangement was made while opening L/C. †¢ When importers fail cash retirement commitment and bank considered his or their request. †¢ When situation compels so due to total non-cooperation of the importer. This situation usually doesn’t occur but at the same time can not be totally rules out when importer remain at total detachment with IFICBL. Some products of Import Section are: †¢ LTR (Loan Against Trust Receipt) †¢ Lim (Loan Against Imported Merchandise) †¢ L/C opening RemittanceRemittance is another important sector of the IFICBL from where it earns a lot of foreign exchange every year. Remittance means to send or transfer money or money worth from one place to another. In case the bank as the media to transfer or remit the money. Against the service it charges some commission from the client. Types of Remittance: Generally the process of remittance can be divided into major categories: †¢ Inward Remittance †¢ Outward Remittance Inward Remittance Inward Remittance deals with funds from overseas. The remittance can be performed in two ways: †¢ Cash remittance through TT (Telegraphic Transfer)/ DD (Demand Draft) †¢ Remittance due to export. Functions of Foreign Remittance Section Selling Selling of traveler’s cheques to Bangladesh travelers. †¢ Selling cash foreign currency in the form of draft and ties to Bangladeshi students for education abroad. †¢ Selling of foreign currency to Bangladeshi for medical expenses. †¢ Selling of foreign exchange to non resident stock investor. Buying †¢ Buying of International currency from foreigner and Bangladeshi. †¢ Buying cash foreign currency from foreigner and Bangladesh. †¢ Buying of draft from Bangladeshi. †¢ Buying of International currency from FC account of Bangladeshis individual as well as from exporters. †¢ Buying of International currency from non resident investing in shares and stocks of Bangladesh. OthersOther foreign exchange operation of IFICBL includes FC A/C Such as Non resident foreign currency Deposits (NFCD), Non Resident Bangladeshi’s in initial Public offer etc. These schemes are only for the non resident Bangladeshi. These are maintained by the foreign currency. These schemes are very much profitable both for IFICBL and non Resident Bangladeshi. Additional Services Foreign exchange for travel, medical treatment, education abroad When anyone travel abroad for business, holiday or any other purpose they can obtain their foreign currency and travelers cheques permissible under Government regulation without any hassle from any branches. Student File- Foreign Exchange Remittance for education abroadThe Bangladesh Government allows remittance of tuition fees and living expenses for Bangladeshi students undertaking studies abroad. Outgoing student intending to avail this facility require opening a file with the authorized dealers. Branches have dedicated personnel to assist students in this regard. For efficient handing of the periodic remittance under the schemes customer can fully rely. Money Gram Business of IFIC Bank Ltd Money Gram, one of the innovative products of IFIC bank, has been functioning satisfactory and rendering prompt and efficient services to the wage earners. Money Gram payment System Inc is a non back provider of electronic money transfer service. Money Gram is providing its customers a service of an unsurpassed quality and superior value. Money Gram has over 25000 Agent locations throughout the world. Persons anywhere require transferring cash quickly, reliably, conveniently and at attractive prices to more than 115 countries can depends Money Gram agents for the service. IFIC bank makers and inquiry on the Money Gram computer network to obtain authorization to pay recipient ; recipient receives the fund. At IFICBL they provided the recipients immediate attention and due care. They have made it a point to pay for the IFICBL branches at his convenience for payment recipient within minutes. The recipients need not require having a bank account. We do not levy extra charge. We give a better exchange rate to the recipient.Money Gram Policies ; Producers: †¢ Record keeping Requirements †¢ Money Transfer Send transaction †¢ Money Transfer Receive transaction †¢ Verification of customer’s identity †¢ Send ; Receive form Assets and Liabilities of IFIC Bank: Liabilities: claim on the assets of a Bank or individual-excluding ownership equity. Characteristics: (1) It represents a transfer of assets or services at a specified or determinable date. (2) The firm or individual has little or no discretion to avoid the transfer. (3) The event causing the obligation has already occurred. Paid up capital: The total amount of shareholder capital that has been paid in full by shareholders.Paid-up capital is essentially the portion of authorized stock that the company has issued and received payment for. Paid up capital is the actual amount of capital in money that bank and other directors have contributed towards the company as opposed to the authorized capital of the company. |Year |Amount in Taka | |2005 |406386000 | |2006 |406386000 | |2007 1670715700 | |2008 |1341431400 | |2009 |1743860800 | [pic] The Paid-up Capital is that the amount of money that going to be contributed to setup a new company. When Bank increases their paid up capital, capital asset also increase. in this graph we can see IFIC Bank increase their paid up capital in 2007,2008 and 2009. Reserve: Bank Companies Act, 1991 requires the bank to transfer from its current year’s profit before tax to reserve until such reserve together with share premium account equals to its paid up capital. IFIC Bank transferred 18% of its current year’s Profit before Tax (PBT) to this reserve. |Year |Amount In Tk. |2005 |656632529 | |2006 |798348147 | |2007 |1105105243 | |2008 |1294201621 | |2009 |1725316081 | [pic] Deposits Account increases day by day in IFIC Bank Ltd. so they need to reserve more fund against this type of deposits. In this graph we can see that their reserve constantly increases 2005 to 2009. in 2009 they need more Reserve fund compared other years. Borrowed Fund: Borrowed funds include call borrowing, term borrowings and re-finance from different commercial banks and central bank. Year |Amount In Tk | |2005 |1197380691 | |2006 |291294330 | |2007 |1105237195 | |2008 |203530016 | |2009 |1250000000 | [pic] In This Graph we can see that IFIC Bank Borrowed more in 2005, 2007 and 2009 that’s means IFIC Bank investment opportunities is high in this three years. In this three year also increase their Financial Leverage. Deposits and Other Account: Deposits are recognized when the Bank enters into contractual provisions of the arrangements with the counterparties, which is generally on trade date and initially measured at the consideration received. |Year |Amount in Tk. |2005 |22505172064 | |2006 |28620913537 | |2007 |29900052990 | |2008 |36092169540 | |2009 |50017960808 | pic] In this graph we can see that the IFIC Bank Deposits increase day by day. That’s means IFIC Bank increase their Interest rate, so the people Deposits more and more money. From the political view in our country investment opportunities is not enough. So the people don’t have more investment opportunities and they deposit their money which bank gives more interest. Other Liabilities: Exporters F. C account, accrued expenses provision for classified loans and advance dividend payable, provision for taxation, bonus payable, Loan pool , Oman international Exchange, Export development fund and many more liabilities for IFIC bank are include here. Year |Amount In Tk | |2005 |5137405111 | |2006 |5533186610 | |2007 |6295077124 | |2008 |6237046589 | |2009 |7436447934 | [pic] the amount of income taxes, interest on nondeposit liabilities and other expenses accrued through charges to expense during the current or prior periods, but not yet paid, Dividends declared but not yet payable — Include the amount of cash dividends declared on limited-life preferred, perpetual preferred, and common stock on or before the report date but not payable. We can see the IFIC Bank other liabilities are much, so they need this type of liabilities.Assets of IFIC Bank LTd: Most of the assets of banks can be grouped into 4 categories: cash, securities, loans, and other assets, which includes real p roperty, such as equipment, buildings, land, and repossessed collateral from borrowers who have defaulted. IFIC Bank assets are in the form of loans with a large portion in securities, since these are the main sources of income for IFIC bank. Cash: Cash is obviously an asset to a bank. A bank must maintain a certain level of cash compared to its liabilities to maintain solvency. A bank must hold some cash as reserves they have to keep some cash to conduct business which includes being able to meet withdrawal requests and to meet reserve requirements that are set by the Bangladesh Bank to help prevent insolvency. | Year |Amount in Tk. |2005 |2146612028 | |2006 |2646787635 | |2007 |3593513841 | |2008 |3340418678 | |2009 |4633980079 | [pic] Cash is an expensive asset in terms of opportunity cost because it earns no interest—therefore; banks try to minimize the amount of cash that they hold. In this graph we can see the IFIC Bank create opportunity cost in 2009 compare in other years, because they keep more cash in 2009. Balance with other bank and financial institution: Balance with other bank is another asset of a bank. IFIC Bank Ltd includes Balance with other bank in Bangladesh and balance with other banks outside Bangladesh. |Year |Amount in Tk. |2005 |1001052348 | |2006 |1943654935 | |2007 |2359077889 | |2008 |1919068652 | |2009 |8155648754 | [pic] In this graph we can see in 2009 Balance with other bank is more compared with other years. in 2009 85% Balance with other bank in Bangladesh and rest of the percentage in Balance with other bank outside Bangladesh. Money at call on short notice: One of the assets that appears in the balance sheet of a bank. It includes funds lent to discount houses, money brokers, the stock exchange, bullion brokers, corporate customers, and increasingly to other banks. ‘At call’ money is repayable on demand, whereas ‘short notice’ money implies that notice of repayment of up to 14 days will be given. After cash, Year |Amount in Tk | |2005 |990000000 | |2006 |1150000000 | |2007 |0 | |2008 |70000000 | |2009 |200000000 | [pic] Money at call and short notice are the banks’ most liquid assets.They are usually interest-earning secured loans IFIC Bank provided more in 2005 and 2006 but their importance lies in providing the banks with an opportunity to use their surplus funds and to adjust their cash and liquidity requirements IFIC not provided Money at call and short notice in 2007. in 2008 and 2009 they provided very small amount Money at call on short notice. Investment: Investments are initially recognized at cost, including acquisition charges associated with the investment. Premiums are amortized and discount accredited, using the effective or historical yield method. Accounting treatment of government treasury securities and bonds (categorized as HFT or/and HTM) is made following Bangladesh Bank DOS Circular Letter No. 05, dated 26 May 2008. Year |Amount in Tk | |2005 |2971466388 | |2006 |3545155700 | |2007 |3855691124 | |2008 |5229884252 | 2009 |9082951144 | [pic] Banks don’t like putting their assets into fixed-income securities, because the yield isn’t that great. IFIC Bank invests more in 2009 compare in other years. In 2009 IFIC Bank Ltd investment 86. 40% in Government securities which is more than compare in other years. However, investment-grade securities are liquid, and they have higher yields than cash, so it’s always prudent for a bank to keep securities on hand in case they need to free up some liquidity. Loans and Advances: Loans represent the majority of a bank’s assets. A bank can typically earn a higher interest rate on loans than on securities, roughly 6%-8%. Year |Amount | |2005 |21694895612 | |2006 |25490660668 | |2007 |28361456225 | |2008 |33018385382 | |2009 |37793886723 | IFIC Bank Ltd gives correspondingly more Loans and advances. So they earn more interest in constantly. This is very good for IFIC bank. Loans, however, come with risk. If the bank makes bad loans to consumers or businesses, the bank will take a hit when those loans aren’t repaid. Fixed Assets: A long-term, tangible asset held for business use and not expected to be converted to cash in the current or upcoming fiscal year, such as manufacturing equipment, real estate, and furniture. Also called plant. year |Amount | |2005 |192758868 | |2006 |317439052 | |2007 |383075972 | |2008 |511452828 | |2009 |616262074 | [pic] IFIC Bank fixed assets comparatively increase. In 2009 they buy more fixed assets compared in other years. Percentage change in fixed cost sometimes percentage change for EBIT.If useful lives of assets do not differ significantly as it was previously estimated, bank management does not consider revaluing its assets by the meantime. Other Assets: Other assets, including property and equipment, represent only a small fraction of assets. A bank can generate large revenues with very few hard assets. Compare this to some other companies, where plant, property, and equipment (PPE) is a major asset. | Year |Amount | |2005 |1194269731 | 2006 |986779144 | |2007 |1361334367 | |2008 |1640263398 | |2009 |2419136205 | [pic] Other assets include stationery and stamps, suspense account, Revaluation A/C FDBP, Revaluation A/C IDBP and Accounts receivable others. We can see that in this graph 2009 and 2008 other assets are very good for IFIC Bank Ltd. Recommendation The overall scene says that The IFIC bank has the strong efficient management in loan management. Although there a chance to default loan and some non performing loan the bank always prefer to utilize their deposit fund in the loan sector than in investment sector.The IFIC bank always takes necessary steps by analyzing the credit approaches thus the bank does not need to face the loan default problem. But the efficiency also affected by economic condition of the country beside the political situation. The IFIC Bank is always promising satisfied its customer. Conclusion Today’s business is very competitive and complex. To survive in the related sector the organization need competitive people and has to take some effective policy. Every country must given a plan for important role in economic activities Bangladesh is no exception of that. Commercial Bank’s financial development and economic development are closely related. That’s why the private commercial banks are playing significant role in this regard.The Bank should have to up a new standard in financing in the industrial, Trade and foreign exchange business. Its various deposit and credit products should have also attracted the clients- both corporate and individuals who feel comfort in doing business with the Bank. The bank should take initiative effort to accelerate the non interest income performance for avoiding negative non net interest income. Reference www. ificbankbd. com Annual Report 2006 Annual Report 2008 Annual Report 2009 ———————– Draft Export Proceed Mail Transfer Telegraphic Transfer Bills Travelers Cheque Inward Remittance Chart: -Modes of Inward Remittance [pic] How to cite IFIC Bank Ltd.: Banking Activities and Asset Liabilities, Papers

Changes in Organizational Design - Culture And Change

Question: Discuss about theChanges in Organizational Design, Culture And Change. Answer: Introduction: Change is an intrinsic requirement for survival. As in the natural word, corporate and businesses too need to constantly innovate their products, services and practices in order to remain competitive and continue generating profit. Changes are the result of internal or external factors that influence the organization. Change may be inculcated in the design or structure of the organization, its work culture and ethics, and so on. Regardless of the area of change, there remains an effect either major or minor that effects the organization as a whole. It has been noticed that many of the changes that are happening in businesses during the last decade are in no small part due to the socio-political and economic changes happening across the world. Interestingly most of the changes are piecemeal rather than an overall change and are a direct offshoot of the manner in which organizations have shifted focus from markets to factors like competitors and product differentiation (Corkindale, 2012). A notable factor influencing organizational change is the emphasis placed on Corporate Social Responsibility. CSR has brought about several changes in the manner in which businesses function. The changes can be seen not only in the end product, but in the process as well as the manner in which the organization interacts with its peers, customers and suppliers. Important considerations like reducing carbon footprints and achieving carbon neutrality is important for helping to shape the CSR principles of organizations, thus often creating changes in all aspects relation to the organization including its design, hierarchy and manner of functioning. Organizational design maybe considered to be a formal, all inclusive process of creating a permanent link between all concerned parties (Junaid, 2013). Furthermore it is seen that this change may also bring about a change in the organizational culture as well strategic business Units are now replacing traditional departments and this has created a significant shift in the organizational structure. The traditional roles of top and middle management as well as other staff are now replaced with SBU chiefs who are tasked with the management of the departments. Interestingly, the departments too are now decentralized and the onus of performance rests solely on individual players. While team efforts are important, the individuals who make up the tea are equally responsible for the output of the team. This concept along with the increasing reliance on virtual teams and contractual employees has lead to the downsizing of the actual team size. The actual team comprises of persons related to the core functions of the business enterprise and does away with many of the supplementary departments like HR. Functions like payroll processing, network administration and HR, to name just a few are now outsourced to a large extent. This new organizational structure of business without an HR or a minimal number of employees in HR and finance has lead to the blossoming of large organizations with fewer core members. This organizational design is small and the organizational culture teds to be informal with most employees including the top management being close knit and on first name terms thus helping to streamline the organization as a whole, but allowing the business to concentrate on its core areas of functionality. Yet another new concept in organizational structure is called matrix structure. Under this structuring, each department is represented in the team that works on a project, this structure is typically preferred by software companies as they tend to assign a specific project to a team. The team members would include a representative from the finance, HR and marketing division in addition to the programmers who would be working o the project. A project manager would be responsible for synchronization among the team members. It would therefore be accurate to conclude that the changes that are seen in organizational design and culture are largely due to the changes in the core thinking of top management who look at enhancing the efficiency of the core tem in the best possible manner. References Corkindale, G. (2012). The Importance of Organizational Design and Structure. Harvard Business Review. Junaid, M. R. (2013). Collapse of giants: Conceptualizing trust as a metaphysical imperative in organization infrastructure. African Journal of Business Management, 2926-2937.

Louis Vuitton in Japan free essay sample

What has made LV’s business model successful in the Japanese Luxury Market? Japanese luxury market has often placed the greater deal about value on quality along with exclusivity of the products that are being offered as well as it is the critical success factor for the luxury brands within Japan. Fact, which Louis Vuitton has regularly concentrated on enhancing the quality of their product portfolio, has been the important element towards brand’s success in between Japanese luxury market. What made LV’s business model successful within Japanese Luxury has been most important because of the aggressive marketing strategy that they have adopted in the entire nation. Rather with its heritage, â€Å"savoir-faire a la francaise†, constant innovation, quality of its products along with the offered lifetime repair guarantees, LV’s has managed making their Japanese consumers loyal to brand along with succeeded to build their empire within the Japan. What are the opportunities and challenges for LV in Japan? Opportunities Features of evolution of ageing Japanese population might be the option for Louis Vuitton, like wealthier families along with old women with enhanced buying power, however establishing the Internet business, application for the smart phones and also expending the newer range of products for men as well as kids might be next step for enhancing growth within the Japanese Luxury market. We will write a custom essay sample on Louis Vuitton in Japan or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Challenges Changes within the Japanese society along with mindset have been the biggest challenge for Louis Vuitton. New generation does not have similar vision as earlier one along with with gloomy economic context they have lesser inclined towards tolerating the high prices, which was earlier developed desirability. However, entry of the fast fashion brand like ZARA, HM, UNIQLO in Japanese market, providing the quality at the competitive price shook up market share of present luxury organizations within the Japan. Saturated market within the Japan for the fashion luxury, regular lesser editions of products along with feasible departure of the Marc Jacobs might in addition be pointed out like challenges for LV. What are the specifics of the Japanese fashion luxury market? Consumer behavior has been one of biggest specific of Japanese fashion luxury market. Japanese method of consumption has been separate from Western one, as they have been called to be the group related culture in that there had been actual pressure for possessing the luxury brands, its methods of consuming those looks more like the compulsory form of the social expression. And with sufficient marketing strategies successful luxury brand had made Japanese luxury market big market. Apart from that, Japanese customers have often been sensitive towards quality, price, and creativity along with higher fashion these have been the important factors for the successful brands in Japanese market. How did LV enter into the Japanese market originally? What are the other entry strategies adopted later to strengthen its presence? Enter of LV in Japanese market started in mid of the year 1970 however thanks to Vuitton Racamier family who was concentrated majorly on building the Japanese clientele. LV opted for the newer strategy through opening their individual shop in shops in between Japan without help of the Japanese distributor. Louis Vuitton turned out towards being the pioneer in establishing their individual subsidiary as well as exporting products directly from the France to Japan. However, hiring the domestic Chief Executive Officer along with managers for leading Louis Vuitton within Japan permitted brand for doing business much more efficiently trusting they have been much more capable of making market driven decision, as they have been capable of better understanding domestic people. However, through providing architectural stores with the interior design comparable to found in their flagship stores within Paris, Louis Vuitton has been capable of revolutionizing entire buying experience in store matching emotion brought out through products. For strengthening their presence within the Japan Louis Vuitton opted for many others strategies, like hiring Marc Jacob who was created new energy for every ready to wear collection, mixing tradition as well as innovation however in addition through collaborating with the Japanese artists along with launching lesser editions products (exclusivity perceive through consumers) that allows Louis Vuitton to enhance their profit right away. With Japanese economic boom of 1980, Louis Vuitton saw the real option along with decided for entering within this Asian market. However the strategy adopted through company had been totally separate along with uncommon from rest of the world wide actors. Rather, Louis Vuitton had been initially multinational for opening their individual shop in shops through establishing their own subsidiaries, concentrated on only 1 brand of their portfolio. LV did not use usual supply chain schema along with help of the Japanese distributors however exported their products, straightly from France to Japan. Such a strategy provides real benefit to company, underlying higher quality of their production along with distribution systems. LV strategy had original in fact, which that gave the stronger autonomy towards their subsidiaries, and power about market driven decisions. LV trusted Japanese managers along with started on its perfect comprehension as well as knowledge of domestic people, domestic culture along with local consumer behavior. For strengthening their presence in the Japan, LV gave some flexibility towards Japanese market through designating that the place for test newer products and for opening open avantgardist stores, with help of renowned Japanese designers as well as artists. Will LV have any new challenges arise due to the global financial crisis? How does it overcome the new challenges? As described earlier there has been the shift within the Japanese customer preferences along with this has been even much more highlighted because of the global financial crisis. Rather, days of charging the higher price for products having proprietary logo looked to be gone within the Japan. In the time of recession Japanese customers have been becoming much more aware about value of money. However, counterfeiting seemed even in Japanese market in which quality has been one of important factors within act of buying the luxury goods along with this became the bigger challenge for LV. Now that fake bags have been hard to differentiate from genuine ones, Japanese customer would purchase fake LV bags, which they would use for daily life, even if they own authentic, which they would save for important occasions. As there had been sustained slowdown in demand for luxury goods in the year 2008 to 2009 because of the global recession, Japanese luxury market would remain the healthy as well as increasing industry along with strategic decisions may overcome those challenges. On the contrary LV has decided to reduce their prices however they had made 7% price reduction on their range of products. On the contrary LV designated Kiyotaka Fujii the new CEO that initial change in Japanese management team. Such a change in the management allows brand to have the newer vision along with newer concepts such as expanding range of the products for children, sales of smaller products (wallets, sunglasses), spreading the business on web, expanding their strategies as well as opening the newer stores in the mid size cities in which brand has not been well know.

Smithfield Foods Company

Smithfield Foods Company Background description on Smithfield Foods Company Smithfield Foods Company produces and manufactures pork and pork products. It is the largest pork producing company in the world. The company was established in 1936 and the current headquarters are based in Virginia. Smithfield Field raises approximately 14 millions pigs annually.Advertising We will write a custom assessment sample on Smithfield Foods Company specifically for you for only $16.05 $11/page Learn More The company processes about 27 million pigs are each year, to produce pork and beef products. Various brand names are used in the global markets to represent the pork and beef products. Smithfield has experienced various challenges in offering better products in the market. The management has made efforts to improve the performance of the company, and to reduce the negative effects of its activities (Smithfield Foods website, 2011). The implementation of Customer Relationship Management will help improve the performance of the company, both internally and externally. The challenges facing the company will be resolved by installing and implementing eth CRM system. However, the management should have strategies of ensuring that the system is successful because there will be various challenges to be experienced during the implementation process (Thomas, 2011). The issues and challenges facing Smithfield Foods Company According to Hirsch and Person (2009), Smithfield experiences many problems concerning its relationship with customers, employees, environment groups, and other stakeholders in the industry. The customers of the company have complained about exploitative process imposed to the products of the company. The company has been able to dominate the global market, and this makes it impose prices discriminatively (Pride Ferrell, 2008). Smithfield has been sued for its poor waste management practices. It was alleged that the company disposes untreated animal waste into wa terways. This has affected the health standards of the workers and the neighboring communities. Cases of bad animal waste stenches have been reported by the people living around the company (Fainaru, 2009). A fine of $12.6 was issued to the company in 1997 for violating Clean Water Act. Despite the efforts made by the company to operate in a clean environment, the company has been alleged to spread swine flu due to its poor waste management practices.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It was reported that the company failed to dispose dead animal bodies, and dogs would consume the carcasses. In addition, people living around the company were reported to complain about headaches. Therefore, the outbreak of H1N1 in 1999 was linked to the company (Squier, 2011). The company has also been practicing poor animal handling. The pigs live in crates which are too small. In addition, transportation of the animals is done poorly such that some animals end up dying on the way. Animal abuse has been reported, and this has affected the demand for the products of the company. The need to know the source of foods found in the market has increased, and this has created the need for customers to seek information about the process of manufacturing as well as production of food components. As such, the treatment of animals has become important in determining good practices by manufacturers. This has affected the market for the products produced by Smithfield Foods Company because the company has been mishandling animals (Thomas, 2011). In addition, most of the customers are concerned about the welfare of the employees’ working conditions. The company has been sued severally for its poor workplace conditions. The management of the company interferes with the operations of the labor union of the employees. This makes it possible for the company to oppres s its employees because it can easily manipulate the rules of the union. For example, in 1994 and 1997, the United Food and Commercial Workers Union (UFCW) sued the Smithfield Foods Company for manipulating elections of the union. The National Labor Relations Board had issued injunction to the management of the company to stop interfering with the activities of the union. In 2006, the management of the company failed to provide finances for conducting fair elections at the union. Due to the unfair practices of the company employees have held several public demonstrations to protest the behavior of the company (Bacon, 2008).Advertising We will write a custom assessment sample on Smithfield Foods Company specifically for you for only $16.05 $11/page Learn More The UFCW called for mass boycott of Smithfield’ products in 2007 and this affected consumer perception about the products of the company. The campaign affected the image of the company’s p roducts in the domestic and global markets. Even though an agreement to stop the boycott was reached between the UFCW and the company, the demand for the products from the company has been affected due to the poor working conditions of the company. In addition, the image of the company has been tarnished, and the company may lose its global market share in the near future. Smithfield has encounter other disputes which have caused it incur a lot of fines. For example, in 2009 the company was penalized $900,000 for engaging in illegal merger (Pope Treacy, 2011). The benefit CRM will bring to Smithfield Foods Company By adopting Customer Relationship Management (CRM) strategies, the company will interact with customers. This will help identify the problems that customers may have concerning the products offered by the company to the market. The company will identify changes in consumer demand, and any aspect of the products that the customers may wish to be added. With the implementat ion of CRM, the customers will be able to convey information to the company. This will help the employees to develop products according to the specific needs of the customers. Since the company has many customers, and operates in many countries, the introduction of CRM will help get in touch with all customers by establishing appropriate information collection system (Sunil, Krishnan Fornell, 2005). The CRM system will help the company identify complaints from customers and other stakeholders. By installing an electronic CRM, the management of the company will easily monitor the feedbacks provided by stakeholders.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Communication with relevant departments will also enhance the provision of appropriate remedies to the prevailing problems. The company requires using the information obtained from the customers to develop strategies of improving the welfare of its employees, animals and to maintain appropriate environmental standards (Eugene, Fornell Mazvancheryl, 2004). Developing custom-made products will be possible by applying the CRM strategy. The company will be able to identify the specific needs of the customers, and this will be incorporated in the product design, performance strategies as well as improving the environmental conditions. Therefore, the company will achieve higher customer satisfaction, and this will lead to higher profits being made. Consumer loyalty will also be achieved when customers are satisfied (Hennig, 2000). Customers develop a repurchase behavior when they are satisfied by the products and services of a certain company. The high levels of customer satisfaction wil l help improve the market position of the products of the company. As such, the company will achieve a higher competitive position in the domestic and global market. This will help improve the sales made by the company, and ultimately it will be able to dominate the global markets (Asim Mela, 2003). Developing appropriate marketing campaigns will be possible by the use of CRM. Smithfield has experienced boycott campaigns against its products in the past. By applying CRM, the company will be able to overcome challenges it encountered in the past where the image of its products was tarnished. The application of CRM will neutralize the negative campaigns provided by the UFCW (National Labor Relations Board, 2008). According to Shimp (2010), conducting corporate social responsibility will be possible by applying CRM. The company has experienced moments of poor brand image in the global image, and there is need to develop strategies of promoting the image of the brands of the company by conducting corporate social responsibility activities. These activities will help build a better product image among all consumers of the company’s products. Identifying the social needs of the communities where the company operates in will be possible by implementing the CRM strategy. The company can collect information from all stakeholders concerning projects which are essential for improving the status of the communities (Ruth, Kannan, Bramlett, 2000). By conducting CSR activities, the company will develop better relationship with the communities where it operates in, and thi9s will help improve the image of the company in the global markets. Meeting the social needs of the communities will help resolve some problems the company has been facing in the past. For example, the challenge of environmental cleanliness can be dealt with more easily by mobilizing communities to help clean up the water ways. By installing appropriate facilities to protect the communities from be ing affected by the animal waste will also help improve the relationship with the neighboring communities. This implies that the company will develop strategies of promoting better environment by collecting information from the neighboring communities by the use of CRM tools (Owyang, 2010). The type of CRM system that is best suited for Smithfield Foods Company The use of closed-loop CRM is the most applicable for Smithfield Foods Company. The closed-loop CRM helps customize marketing campaigns and measures their effectiveness. This helps improve the overall performance of an organization. Through the closed-loop CRM system, the company will measure how effective the organizational systems are. It also predicts the customer behavior in the future. The available data is modeled to predict the behavior of consumers in future. The system also allows managers to act upon the observed behavior of customers. Since Smithfield Foods Company aims at improving the overall satisfaction of all stakeholders, using the closed-loop CRM system will be the most applicable because it will help identify the factors affecting all stakeholders (Kale, 2009). The types of multi-channels venues the company should adopt in this CRM approach The first channel is measuring the extent of CRM. This means that the company will measure the success of implementing the CRM by the use of profits, sales volume or any other organizational aspect. The measures should be easy to quantify so that the management can know the extent to which the company has achieved change after implementing the new strategies (Kale, 2009). The other channel will involve acting to accomplish the CRM system is taking action. After identifying the appropriate CRM to be applied, the management must act on the strategies to ensure that they are impended. This will ensure that the entire process is complete. This channel ensures that the strategies are implemented according to the requirements of the customers and other s takeholders (Foss Stone, 2002). Predicting is the last channel in the implementation of the CRM channel. This will help determine the future requirements of the company. Prediction provides the management with the necessary strategies for improving the performance of employees to achieve the changing market conditions. By applying the current market variables, the management can predict the market performance or the behavior of customers in the near future (Kale, 2009). The areas of support the company needs for a successful implementation of CRM The company will need support in financing the implementation of the system. Installing a workable CRM requires having enough capital resources. The funds can be sourced internally or from external sources. The company should be ready to pay all expenses associated with any method of providing funds to finance the process. In addition, the company will require support in the areas of professional skills. There implementation of the CRM pro cess requires the use of appropriate professions to ensure that the entire process is successful. To achieve this, the management will be required to outsource people with skills to perform the activities of implementing the CRM process. Alternatively, The Company can train its employees to implement the CRM internally. This will reduce the costs; however, the internal employees may not have all the skills required in the implementation of the CRM process (Dyche, 2002). The company should consider outsourcing its software Smithfield Foods Company should use outsourced CRM system. This is a system whereby the company makes a contract with another company to supply with CRM system. This type of system is the most suitable because Smithfield Foods does not specialize in manufacturing and developing CRM system. Outsourcing the system will improve on the quality of CRM system developed for the operation of the company’s activities. In addition, developing the CRM system might requ ire special skills and professions, and these may be costly for the company. Outsourcing the system will also help save the time that would have been used to developed the system by the employees of the company (Kale, 2009). Some of the hardware’s the company needs to consider Smithfield Foods Company will need to install internet systems in almost all departments of the company. In addition, computers and computer peripherals will be required to capture the required data. The use of data capturing and analysis tools will help implement the strategy of the company. With the use of internet system, the stakeholders of the company will be able t communicate with the management of the company. The company will be required to install data recovery system. This will help retrieve data in case the system is affected by viruses or any other malicious damage. Soft copy and hardcopy of the most valuable data should be kept as a security measure (Kale, 2009). How the company will addre ss the changes in organization To address the changes in the organization, the management will be required to communicate with all the stakeholders to inform them about the expected changes. A discussion should be introduced to allow all stakeholders provide their opinions concerning the new system of management. The employees should be prepared psychologically to allow them accept the new system of operation. This will help change their mindset so that they can easily adapt to the new system. This will help reduce conflicts as a result of rejection of the new system. In addition, the skills of the employees will have to be aligned with the new system of operation. For instance, employees will have to be trained on how to use the communication system so that they can acquire better skills (Kale, 2009). In addition, the employees will have to be trained on the technologies required to collect data from the customers and other stakeholders. Business partners with the company will have to be informed and involved in the transition process. As such, the ideas of the business partners will be of great importance because they will enable the management to improve on its operational systems. Suppliers to the company will have to be communicated about the new demand and needs of the company. Change in the products supplied will be essential because better materials will be required to improve the quality of pork manufactured. Communicating with suppliers will also improve the process of production. Materials required in the waste management process will be required (Kale, 2009). Issues relating to implementation of a successful e-CRM Successful implementation of CRM system will help reduce conflicts between Smithfield Foods Company and its customers. The company will be able too develop better strategies of improving customers’ satisfaction. Therefore, the level of customer loyalty will be high after implementing the CRM system. The system will also improve the corporate social responsibility of the company. By the use of the CRM, the management of the company will develop better strategies of improving the welfare of the communities where it operates (Shin, 2005). In addition, the company will have better strategies of dealing with waste emanating from the production and manufacturing process. The conflicts between the company and environmental activist groups will be eliminated because the company will easily communicate with the stakeholders to identify any necessary changes in the strategic management of the company. Therefore, the CRM system will improve the status of all stakeholders of the company, and this will help improve the profits, competitiveness and market position in the domestic and global markets (Kale, 2009). Management of CRM To manage the CRM system of the company in the long-term, the management will be required to develop a Research and Development (RD) team to carry out research about changes in consumer behavior. The team will monitor the system and any improvements will be done accordingly. It is important for the RD team to identify the best solutions to the challenges facing the company. The team should also predict the future expectations of consumer behavior. The management should work in collaboration with the RD team to develop appropriate strategies. In addition, the ideas from external and external stakeholders should be collected to ensure they are involved in the decision making process. The CRM system will have to be developed according to prevailing customer needs. Since customers are the final users of the products of the company, their opinions should be highly valued. Therefore, the company should have a good relationship with its customers so that they can provide the necessary information about developing the CRM system (Kale, 2009). List of References Asim, A. Mela, C. F. 2003, â€Å"E-Customization.† Journal of Marketing Research, 40 (2), 131–145. Bacon, D. , 2008, Illegal people: how globalization creates migration and criminalizes immigrants, Massachusetts: Beacon Press. Dyche, J. 2002, The CRM handbook: a business guide to customer relationship management, New York: Addison-Wesley Professional. Eugene W. A. Fornell, C. Mazvancheryl, S. K. 2004, â€Å"Customer Satisfaction and Shareholder Value.† Journal of Marketing, 68 (3), 172–185. Fainaru, S. 2009, Mexicans Blame Industrial Hog Farms, The Washington Post, May 10, 2009. Foss, B, Stone, M. 2002, CRM in financial services : a practical guide to making customer relationship management work, London: Kogan Page. Hennig, T. 2000, Relationship marketing: gaining competitive advantage through customer satisfaction and customer retention: with 24 tables, Berlin: Springer. Hirsch, J. A. Person, J. L. 2009, Commodity Traders Almanac 2010, New jersey: John Wiley and Sons. Kale, V. 2009, A guide to implementing Siebelcrm, New Delhi: Tata McGraw-Hill Education. National Labor R elations Board (eds), 2008, Decisions and Orders of the National Labor Relations Board, National Labor Relations Board (U.S.), 347. Owyang, J. 2010, Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management. Web. Pope, C. L. Treacy, D. H. 2011, Corporate social responsibility report 2008/09. Web. Pride, W. M. Ferrell, O. C. 2008, Marketing Express, Massachusetts: Cengage Learning. Ruth, B., Kannan, P. K. Bramlett, M. D. 2000, â€Å"Implications of Loyalty Program Membership and Service Experiences for Customer Retention and Value.† Journal of the Academy of Marketing Science, 28 (1), 95–108. Shimp, T. A. 2010, Advertising, promotion, and other aspects of integrated marketing communications. Mason, Ohio: South-Western Cengage Learning. Shin, N. 2005, Strategies for generating e-business returns on investment, Hershey, PA: Idea Group. Smithfield Foods website. Squier, S. M. 2011, Poultry science, chicken culture: a partial alphabet, Ne w Brunswick, N.J: Rutgers University Press. Sunil, M., Krishnan, M. S. Fornell, C. 2005, â€Å"Why Do Customer Relationship Management Applications Affect Customer Satisfaction?† Journal of Marketing, 69 (4) 201–209. Thomas, G. 2011, Animals, International Law, International Trade, and Morality, Netherlands: Kluwer Law International.

The US Foreign Policy Respond to China's Rise in 2000-2010 Research Proposal

The US Foreign Policy Respond to China's Rise in 2000-2010 - Research Proposal Example America has been championing for the honoring of human rights and democracy. China’s one-party dictatorship has proved to the main problem affecting United States’ efforts to institute democratic principles in the country. China has engaged in human rights violations as well as suppression of political freedom. As a result, the United States policymakers have faced pressure to encourage the Chinese Leadership to show more respect for human frights a promote a freer political realm. However, China sees opposition leaders as being supported by the United States to cause disunity in China. The U.S foreign policy toward China moved from a containment policy at the height of the cold war to an engagement policy. In essence, the ideology of American foreign policy has long been based on two concepts of â€Å"Whiteman’s burden’ and â€Å"manifest destiny’. â€Å" Whiteman’s burden’ refers to American policy for world liberalization and the improvement of human condition. America has demanded the institutionalization o democratic principles and rule of law in China. â€Å"Manifest destiny† refers to the lack of mutual respect to international market forces. The United States sees China as a major rival in the world economy. America no longer views China as the most promising trade partner. In the year 2000, President Bush made it clear that China had become a rival and a competitor, the president further noted that China was no longer a constructive strategic partner. The United States has since emphasized on the need to have Jap an as an ally and downplay the contribution of China. Tensions between the United States and China emerged in April 2001 when EP-3 spy plane got involved in Hainan incident. The incidents could have led to military confrontation.The United States demand that Chinese leaders honor human rights and promote political freedom.  

Gender Differences Essay Example | Topics and Well Written Essays - 7500 words

Gender Differences - Essay Example The preparation and the aftermath of any of the above mentioned occurrences requires special planning and assistance. The research will show that due to our "classic conditioning", we are systematically excluding a segment of our population from participating in an all important undertaking. The literature will use the educational system to show how we view gender, and how this time honored perception skews the method and attitude of instruction and attention, in fostering a mere tolerance, and not an equal commitment to the presence of girls in the classroom. The fact that gender differences in the classroom is not viewed as a significant entity, is stunting the growth and denying the full potential of a majority of the school age population. Additionally, the literature will also address the gap and the absence of ethnic gender diversity considerations in the educational system. The system addresses this matter as if the low income minority female is present in the classroom, only to bide her time, until something else comes along. She receives little credit for her achievements and given only casual acknowledgment for her efforts. The literature sets out to highlight the existence of gender differences and whether the presence of these differences is fertile ground for bias. And whether the bias results in a disadvantage for any of the groups affected. Is it a fact that boys are educated differently from girls, and if so, does the advantage have a positive or negative impact on the achievement of the gender or race of those without the advantage. Are remedial measures necessary to assist in obtaining gender and ethnic equality The review clearly points out the existence of gaps in standardized test scores among various students classifications, for example, a Caucasian female student who has a high GPA will invariably score, on average, 30 points less than her Caucasian counterpart on the SAT. Even if the male has a lower GPA than the female, his scores will be higher than the female.This phenomenon is so pervasive until college admission officers have adopted a policy to make a 30 point allowance between male and female scores when making admission decisions. 2.0 CHAPTER TWO 2.1 GENDER IDENTITY Gender identity is the individuals private experience of his/her gender; the concept of the self as masculine or feminine. This is such an important part of a person's self concept that in most adults it is virtually impossible to change it. There are several different perspectives on how gender identity is formed and this writer finds the following concepts the most appropriate; psychoanalytical, social learning, and cognitive development.Psychoanalytical theory describes a process in which the young child identifies3 with the same sex parent. She internalizes the characteristics and behavior styles of that parent and begin unconsciously to react in similar ways; Social Learning theory suggests that the child develops a gender identity through a learning process that involves modeling, imitation and reinforcement. The theory rests on the assumption that boys learn to be boys and girls to be