Public Policy- Environmental Policy Essay Example | Topics and Well Written Essays - 1000 words

Public Policy- Environmental Policy - Essay Example and more so, the influences of population growth, urbanization, industrialisation, new expanding technological advances, exploitation of resource and their impact. Critical value of restoring as well as enhancing environmental quality to the welfare and progress of man are well emphasized. The role of stakeholders- Federal Government, public and private organizations in using practicable measures and means that include technical and financial assistance to promote the welfare and maintain states under which nature and man can coexist in a productive way to fulfil the economic, and social needs of future and present generations .The policy was to directly educate the Americans that, safe, aesthetically- culturally pleasing, healthful, productive, safe, important historic, and natural aspects of our heritage, biodiversity, and free choice can only be attained through environmental preservation. And this could only be achieved when a state of equilibrium is attained between population and the available resource for use to allow high standards of living and enhance promote renewable resources and approach to maximise recycling of the non-renewable resources. This therefore calls for recognition that every person is entitled to enjoy a healthful environment and the responsibility he has to contribute towards preserving and the environment. The policy vividly states the responsibilities of each individual as trustee of the environment for succeeding generations and assure the society of productive ,culturally, safe, healthful, and aesthetically pleasing surroundings the legislation should further enhance positive use of the environment without degradation other unintended consequences. Furthermore it stresses that government should utilize interdisciplinary approach to ensure integrated use of social and natural sciences in planning and for indecision making to impact on the environment. In the present societies, economic and social activities are

China online banking development Essay Example for Free

China online banking development Essay China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to Chinas large population, the countrys Internet market still has great potential. Information technology has been utilized in almost all sectors of Chinas economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in  China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to Chinas large population, the countrys Internet market still has great potential. Information technology has been utilized in almost all sectors of Chinas economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in China. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of Perfecting our International and Distribution Business caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing Chinas capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, Im quite familiar with Chinese financial industry structure. Id like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through All in One Net, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called International Symposium on the Development of Online Banking and Supervision sponsored by China Banking Regulatory Commission, Chinas online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses. In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation from a traditional cash and carry banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China Chinas online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China. According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), Chinas major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business [emailprotected] ICBC officials said the upgraded e-banking platform could facilitate a key shift of the banks outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows almost all services a traditional banking outlet offers to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com Chinese Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com Chinese Simplified English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com Chinese Simplified English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information. International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn Chinese Simplified Chinese Traditional English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking. Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the Peoples Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibanks Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages. Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service. China is expected to become the largest information technology (IT) market in the world in the next five years, acknowledging that computers will be popular in Chinese families by that time. China now ranks No. 2 in Internet subscribers in the world. Owing to Chinas large population, the countrys Internet market still has great potential. Information technology has been utilized in almost all sectors of Chinas economy today. E-government, e-business, e-finance, and upgrading of state-owned enterprises will all provide more opportunities for the development of the industry in China. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of Perfecting our International and Distribution Business caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing Chinas capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, Im quite familiar with Chinese financial industry structure. Id like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through All in One Net, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called International Symposium on the Development of Online Banking and Supervision sponsored by China Banking Regulatory Commission, Chinas online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation from a traditional cash and carry banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China Chinas online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), Chinas major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business [emailprotected] ICBC officials said the upgraded e-banking platform could facilitate a key shift of the banks outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows almost all services a traditional banking outlet offers to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com Chinese Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com Chinese Simplified English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com Chinese Simplified English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information. International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn Chinese Simplified Chinese Traditional English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking. Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the Peoples Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibanks Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages.   Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service. Read the Memo sent out by Jaime about 2004 Mid-Year Offsite Business-planning meeting conducted by S1 management team, the key topic of Perfecting our International and Distribution Business caught my attention. Learned the news that Macau Tai Fung bank implemented S1 Banking Solution to launched its online banking services, and found out that S1 opened an office in Beijing Chinas capital city, I got a feeling that S1 already turned its eyes to Chinese Market and wonder whether S1s management would like to make further moves and seize the opportunity. Before left China to immigrant to Canada, I had 6 years working experiences in Beijing-my home city, dealing with Chinese financial agencies and institutions, Chinese and foreign banks as well as other financial institutions and service providers in China, Im quite familiar with Chinese financial industry structure. Id like to reuse my knowledge and made this online research report. If S1 is interested in expanding business in China, but not clear what is the situation there and where to start, my research report will, I hope to a certain extent, answer some of your questions. The main purpose of this report is to provide some information and personal suggestions that, I hope, could be helpful for S1s management or marketing team to better understand Chinese market. This report includes information covering Chinese banking system structure, the emergence and development of Internet banking and online insurance services in China, Chinese governments policies and regulations toward online banking and insurance business as well as some prepositional thoughts about how to present S1 and its products to China. Naissance of Online Banking in China In the late 1990s, China began allowing banks to open online businesses. In 1996, China Merchants Bank launched the 1st online financing service in China through All in One Net, an online payment method, which set up the basic operating pattern of China online banking. On October 1997, the Industrial and Commercial Bank of China (ICBC) established its own homepage on Internet to promote its financing services and to provide business guide for Internet users. March 1998, Bank of China successfully handled its first e-transaction. To 1999, all major banks in China had sped up their online banking construction. To date, online banking has made good progress in China. According to statistics from the recently seminar called International Symposium on the Development of Online Banking and Supervision sponsored by China Banking Regulatory Commission, Chinas online bank transactions are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Currently, China has over 40 million individuals and 60,000 companies and institutions involved in online banking businesses. In 2003, Internet-based banking businesses have witnessed a big step forward, owing to the outbreak of SARS (Severe Acute Respiratory Syndrome). Traditionally, Chinese have placed a premium on face-to-face meeting for important business-related matters, but the SARS crisis has forced people to change their attitude. Online Banking Development in China China is in the early stages of a vast transformation from a traditional cash and carry banking system where customers use the branches for almost every banking activity to a modern Internet banking system. Currently, more than 50 commercial banks (domestic and foreign) and over 200 of their branches in China have opened websites, among which, a total of over 50 banks have launched online businesses. The Growth of Online Banking Customers in China Chinas online bank transactions were 14. 3 billion yuan in 2001, increased to 21. 8 billion yuan in 2003, and are expected to reach 20 trillion yuan (about 2. 4 trillion US dollars) by the end of this year. Figure 3. 1: The Growth of Online Banking Customers in China Online Shopping Payment Methods in China According to a survey made by China Internet Network Information Center (CNNIC), payment online by credit card and deposit card is becoming the 1st choice for online purchasing. The traditional payment method of payment on delivery by cash and postal remittance decreased 3. 7% this year. Figure 3. 2: Online Purchasing Payment Methods in China An analysis shows that security and service abilities are the main concerns for Chinese to use online banking services, 72. 2% of the people inquired care a lot about whether the banks can guarantee the safety of all transactions in their online services, 60. 6% hope to see more functions and flexibilities. Figure 3. 3: Factors that that will attract Chinese to use online banking services Both Chinese and foreign banks in China realized that the internet solutions provide clients with more channels to communicate with them and allow them to benefit from greater control and cost efficiency, which are top of mind for treasurers today. Domestic Banks and Their Online Banking Services For many Chinese, banking in general is a new experience and in an economy where cash remains important, so bank branches also provide security to customers. However, with accession to the World Trade Organization (WTO), Chinas major banks having to face competition, the local players are increasingly seeing their extensive and heavily manned branch networks as a liability. More and more Chinese banks seem to have discovered the Internet as new source of revenue and the powerful attraction of Internet banking is reflected an attractive proposition. The Chinese bank that has bee quickest off the mark in building Internet banking is China Merchant Bank, which launched the first online financing service in China in 1996. The four state-owned commercial banks quickly followed and successively began to offer some online services since then. May 2000, the Agricultural Bank of China (ABC) implemented a trial Internet banking service in its Guangzhou Branch, which allowed their customers in Guangdong province to access their account through Internet. December 2000, ABC launched online banking service in Shanghai called 95599 Online Bank. The new service of 95599 Online bank has reportedly attracted a number of large corporate clients, such as China Worldbest Group and Shanghai Volkswagen. The services offered include currency exchange, personal cheque issuance and access to consumer loans. Users can also report the loss of certificates of deposit, bankbooks and bankcards as well as prearrange withdrawals of cash sums. At the same time, China Construction Bank (CCB) announced its plans to extend its online banking services to 15 cities in the mainland as well as simplify the process of related authentication in a bid to boost the number of clients using online services. The bank began offering online services in April 2000 in cities of Beijing, Guangzhou, Shenzhen and Qingdao. Last year, the Industrial and Commercial Bank of China (ICBC) unveiled a new platform for its personal online banking business [emailprotected] ICBC officials said the upgraded e-banking platform could facilitate a key shift of the banks outlets from all-round functions to sales-orientated services, and gives it a firmer foothold in a market with intensifying foreign competition. ICBC officials said the 58-function brand-name allows almost all services a traditional banking outlet offers to be processed by the client on the computer, including 24-hour any-amount transfers of funds or remittances, securities and foreign currency trading as well as collateralized loans. Figure 3. 4: Internet Services provided by the 4 state-owned commercial banks Name Website URL Language Internet Services The Agricultural Bank of China (ABC) www. abocn. com Chinese Simplified Banking industry news and website news, Regulation for foreign currency deposits Link to online banking Bank of China (BOC) www. bank-of-china. com Chinese Simplified English Link to branch offices in other cities and provinces Link to E-banking services Cash management Information on the bank and its activities Information on credit card deposits online and phone banking, loans and remittances. China Construction Bank www. ccb-on-line. com Chinese Simplified English Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Link to branch offices in other cities and provinces Credit card information International Operations such as financing, merchant banking, international settlements, currency exchange, treasury services, credit investigations Information on oversea branches and domestic branches that conduct international transactions Foreign currency deposit, multi-currency remittances, account settlement and term deposit. Link to online banking and payment The Industrial and Commercial Bank of China (ICBC) www. icbc. com. cn Chinese Simplified Chinese Traditional English Link to branch offices in other cities and provinces Link to online bank services: personal banking, corporate Banking Information on E-banking Online financing Links to exchange rates, stock quotes, deposit rates, loan rates, bank fees. Foreign Banks and Their Online Banking Services Citibank claims that they are the 1st foreign bank in China that obtained approval from the Peoples Bank of China (PCBC) to offer Internet banking services in China to both domestic and international corporations, as well as consumers. Its Internet banking services provide clients with convenient, easy-to-use, and secure access to banking transactions, 24 hours a day, seven days a week, over the Web. Offering its CitiDirect corporate banking service for cash management, the bank has developed an internet-based payments system specifically for the country. The system enables corporate clients in China to make local currency (renminbi) payment transactions to beneficiaries in over 7000 locations. The system, called Citibank Easy Payments, also delivers various payment and collections reports for clients to view or download into their computers. Its Internet-based banking services available in China for corporate and consumer clients include: CitiDirect(r) Online Banking is Citibanks Web-based delivery channel for corporate clients, designed to securely deliver online an ever-expanding array of Citibank transaction products. CitiDirect(r) Online Banking provides access to account information, payment initiation capabilities, collections data, trade finance transactions, and import/export file integration capabilities. CitiDirect(r) replaces traditional electronic banking applications with a single Web-based delivery channel, thereby improving efficiency and reducing costs to clients. Available in 90 countries and 20 languages including traditional and simplified Chinese, CitiDirecti Online Banking gives clients the benefits of real-time processing, robust security and integration with their in-house treasury systems. * Citibank Easy Payments, an Internet-based payment system that allows corporate clients in China to make local currency (Renminbi) payment transactions to beneficiaries in over 7000 locations in China. This system was specifically developed for the China market. Citibank Easy Payments also delivers various payment and collections reports for clients to view or download into their computers. Citibank Easy Payments supports interface with all major Enterprise Resource Planning (ERP) packages such as SAP, Oracle, BPCS as well as locally developed Chinese accounting packages.   Citibank. com. cn, an Internet banking portal that allows corporations and consumers to manage their accounts online, make online enquiries or transactions, view customize and personalize pages as well as get online tools and real-time global market information. Global banking group HSBC, Hang Seng Bank and Bank of East Asia received online-banking license and launched online banking service in China on January 2003. This new service allows their customers to check their balances, transfer funds, make time deposits and account enquiries, check interest and foreign exchange rates, and send remittance instructions through Internet. It is said that more foreign banks, like London-based Standard Chartered Bank, have also received approval to launch online banking services in China, but it is not clear when the emerging market specialist would offer such service.

Styles of Leadership in Different Cultures

Styles of Leadership in Different Cultures Executive Summary There are various motivational theories and styles of leadership which are being practiced by organizations worldwide. Certain motivational theories and styles of leadership would only be applicable based on factors such as the culture within which the organization operates. Sri Lanka being a country where power culture has been dominant has to follow less flexible, more extreme motivational theories and styles of leadership such as McGregors XY Theory and Autocratic or Authoritarian Leadership style respectively. It has been identified that there are various advantages and disadvantages of pursuing certain leadership styles. However, it is clear that independent of the style of leadership used, if the leader is an effective leader, this would be a great strength for an organization. Standard Chartered Bank having reported seven successive years of record income and continuous expansion of market share, despite the existing global economic condition, has been recognized as one of the worlds leading banks. The success is entirely a result of the effort of employee groups and leaders of the bank who have been exposed to a unique culture which has been brought up at the bank. Table of Contents Table of Figures Introduction An organization can be defined as a group of individuals working together to achieve a common goal or objective. To achieve these common goals and objectives an organization would require leadership as well as motivation. There are various styles of leadership and motivational theories which are practiced by organizations in order to achieve the desired result. Above all, effective leadership could be identified as one of the best motivational factors. An extensive analysis regarding Standard Chartered Bank has been done with the purpose of analyzing functions of groups, teams and leadership within organizations. Standard Chartered PLC is a British financial services company headquartered in London, England with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 80,000 people. Despite its British base, it has few customers in the United Kingdom and around 90% of its profits come from Asia, Africa, and the Middle East. Motivational Theories and Leadership Motivation could be defined as a psychological process where internal and external factors influence a person to be continuously interested in pursuing and achieving goals. It could be said that motivation influences a persons behaviour at work and ultimately how he performs during the job. There are various motivational theories followed by organizations to motivate their employees and some of these theories are discussed below. Motivational Theories Douglas McGregors Theory X and Theory Y Douglas McGregor has developed two models which are known as Theory X and Theory Y. These two theories were formulated through examination of theories on individual behaviour at work. Douglas McGregors Theory X states that an average human being dislikes work, prefers to be directed, avoids responsibility, has little or no ambition, works for money and mainly security. Theory X has given rise to two management approaches, which are the soft and hard approach. Under the soft management approach, managers seek harmony with the employees under the impression that employees would cooperate with them when necessary. Where, under the hard management approach an employee has to be coerced, controlled, directed and threatened till the expected result it achieved. However, it should be noted that none of the extremes are suitable as employees require more than monetary rewards, they require fulfilling their higher order needs. It is understood the main reason for organizations to use this approach is to ensure that employees behave in the expected manner. Theory Y, unlike Theory X looks at an average human being from a more optimistic angle. Theory Y states that an average human being likes work, directs himself, accepts and seeks responsibility. Theory Y would be more valid and is used by organizations as this would result in higher levels of motivation for employees through matching organizational goals with personal goals. Further, this would lead to employee empowerment as creativity and opportunity to exercise initiative is allowed. Maslows Hierarchy of Needs Theory Maslows Hierarchy of Needs Theory speaks of five groups of basic needs which usually motivate behaviour in many cultures. These basic needs are Physiological, Safety, Social, Esteem Needs and Self Actualization. Figure (Maslows Hierarchy of Needs) In Maslows Hierarchy of Needs Theory, once a need has been satisfied, the desire to satisfy a higher need rises. Hence, a person would be motivated to perform better. Organizations would use this theory to decide on what type of motivation needs to be given to its employees. Organizations use this theory by identifying, Behaviour of an individual at a given moment depends on his strongest need Physiological needs have the highest strength and a majority of employees would work to satisfy this level only An unsatisfied need acts as a motivation factor Once a need is satisfied the desire to achieve a higher order need rises A satisfied need would no longer act as a motivation factor ERG Theory ERG Theory resembles Maslows Hierarchy of Needs Theory. ERG Theory has three groups of needs. Where the first group would be Existence Needs (i.e. physical and material wants), second group would be Relatedness Needs (i.e. desire for interpersonal relationships) and third group would be Growth Needs (i.e. desire to be creative and productive). However, unlike Maslows Hierarchy of Needs Theory, the ERG Theory states, if frustrated in trying to satisfy Growth Needs, Relatedness Needs will re-emerge (frustration regression process). Organizations would use ERG theory to help them identify their employees dynamic needs and help the organizations to understand why employees have such dynamic needs (i.e. once satisfaction progression occurs the needs change and once frustration regression occurs needs change once again). Herzberg Two Factor Theory or Motivation Hygiene Theory Herzberg after carrying out many surveys concluded that to understand employee satisfaction or dissatisfaction work had to be divided into two categories. Motivation Factors: Factors which are strong contributors to job satisfaction. Hygiene Factors: Factors which are not strong contributors to job satisfaction but which must be present to meet an employees expectations and prevent job dissatisfaction. Hygiene Factors: Job security Relations with others Physical working conditions Company policies Pay Quality of supervision Motivation Factors: Achievement Responsibility Recognition Opportunities for personal growth Promotion opportunities Organizations use Herzbergs Two Factor Theory firstly to identify if their employees hygiene factors are met through which an assessment could be made regarding whether the employee is satisfied with the job or not. If not, the organization can identify which factors need to be adjusted so that this may alleviate job dissatisfaction. However, to motivate someone to perform better or to increase satisfaction motivation factors must be addressed by the organization. Using this theory, an organization would be able to identify which form of motivation would be necessary to motivate an employee as motivation factors relate to the nature of the work itself and the way the employee performs it. It should be further noted that this theory has a twofold approach of eliminating dissatisfiers and enhancing satisfiers. Victor Vrooms Expectancy Theory According to Victor Vrooms Expectancy Theory employees will work hard to achieve rewards that they values and that they consider obtainable. Further, Victor Vroom states that an employee will be motivated to exert a high level of effort to obtain reward under three conditions. The employee believes that his or her efforts will result in acceptable performance. The employee believes that acceptable performance will lead to the desired outcome or reward. The employee values the reward. (Karen Collins, 2007 cited in Flatworld Knowledge, n.d) Figure (Expectancy Theory Model) (Karen Collins, 2007 cited in Flatworld Knowledge, n.d) Organizations would use this theory as it would help the organization to understand and interpret, How employees decide to work The effect of planned rewards programs The effect of such planned rewards on the productivity of employees Sri Lanka is a country within which power culture is dominantly seen not only within society but also within organizations. As a result of this culture which has not changed much throughout the years, work force of an organization would naturally await orders from the top and are not interested to take initiative in most situations even when given the chance. Hence, when considering motivational theories which are now widely practiced through the world where a technique of motivating employees in a natural manner is used, it could be understood that such motivational theories if applied within organizations of the country may not result in the expected outcome. Based on this information it is possible to arrive at the conclusion that the most suitable motivational theory to be used by organizations operating within Sri Lanka is McGregors XY Theory where Theory X assumptions have to be used. Leadership Leadership Styles Leadership could be defined as a relationship through which one person influences the behaviour or actions of other people. There are various factors which should be considered when selecting a style of leadership. For example, nature of task (i.e. Urgency, Complexity), type of people being led (i.e. Maturity, Technical Experience, Competence), etc. There are mainly three types of leadership. The Authoritarian or Autocratic Style: A leader exercising this style would make decisions alone without advice from their followers and would state what has to be done and how. Such a style would be suitable in an occasion when all the required information to solve a problem is available, there is a lack of time and the employees are well motivated. The Participative or Democratic Style: A leader exercising this style would involve employees in the decision making process. The leadership functions are shared with members of the group resulting in greater interactions within the group. The group members have a greater say in decision making, determination of policy, implementation of systems and procedures. (Laurie J. Mullins 2007, p. 371) However, it should be noted that the leader maintains the final decision making authority. A Laissez Faire (Genuine) Style or Delegative Style: A leader exercising this style would allow the employees to make decisions after observing how employees work on their own. This is done when employees are able to analyze a situation and decide what has to be done and how. However, the leader would still be responsible for the decisions made. Beyond these leadership styles, it should be understood that leadership behaviour could either be directive or supportive. Advantages and Disadvantages of Leadership Styles Leadership Style Advantages Disadvantages The Authoritarian or Autocratic Style More group productivity while leader watches Decision making process is quicker as the leader makes the decision individually The organization may respond to danger quickly The level of dependence on the leader increases The level of hostility among employees may increase Work force may dislike being ordered around resulting in employee de-motivation The Participative or Democratic Style A positive work environment could develop Motivates creative thinking Reduces employee turnover as a result of less friction between the work force and the leaders Slower decision making Arguments may arise A Laissez Faire (Genuine) Style or Delegative Style Results in employee empowerment Promotes independent thinking Motivates creativity Employees can misuse the freedom given to them and perform poorly Figure (Advantages and Disadvantages of Leadership Styles) Leadership and Motivation Distinguished An authoritarian or autocratic leadership style is followed when employees are dependant and resist change. The efficiency of such employees would be low. Through high levels of supervision, command and control which is exercised by such leaders would motivate employees mainly in three forms. They are, Peer Motivated: As employees would like to be like others Authority Motivated: As employees would follow policies Threat and Fear Motivated: As employees would react to force When a participative or a democratic leadership style is followed there would be greater interaction within the group and hence the personality and efficiency of employees depends on the leaders skills and the work environment which he has created. When following such a leadership style, employees would be motivated in three forms. They are, Goal Motivated: As employees may recognize some opportunity Reward Motivated: As employees would recognize some opportunity for some material reward Recognition Motivated: As employees would recognize an opportunity for change in social status A Laissez Faire or delegative style is followed when employees take up leadership, thrive on change or opportunity, are independent and are achievers. Such employees would be very efficient compared to employees under other leadership styles. Leaders following this style would have limited supervision and would delegate decision making responsibility to employees. When following such a leadership style, employees would be motivated in two forms. They are, Self Motivated and Team Motivated: As employees are allowed to practice creativity When the above three types of leadership and motivation associated with them are analyzed, naturally a participative or a democratic leadership style is best to follow because in a team-motivated environment, dependant employees will be inspired and will strive to be acceptable with independent thinking co-workers. However, as it was mentioned before, due to the culture element of the country work force of an organization would naturally await orders from the top and are not interested to take initiative. Therefore, a leadership style where high levels of supervision, command and control is practiced would be more applicable for such an environment meaning, the most suitable leadership style to motivate employees within organizations would be the authoritarian or autocratic leadership style. Effective Leaders; A paramount to an Organization It could be said that effective leaders are the key for success of any organization. There are many characteristics an effective leader should have. Based on the information given below it is possible to understand that an effective leader is strength to an organization in many aspects. Given below are five factors which make an effective leader a paramount to an organization, An effective leader would be able to influence and inspire people to accomplish a goal, or an objective of an organization. It should be understood that leadership is not about power and has no relationship with driving employees to accomplish their tasks and duties out of fear. It should further be understood that an effective leader would help to encourage or motivate other employees to take up leadership, forming a successful and a powerful workforce. An effective leader would be a visionary person meaning awareness of organizational goals, objectives and vision. Only if employees see that their leader is aware of the direction which he must head they will follow him. This could be an advantage to an organization as such a person would be able to lead the employees of the organization in such a manner that they would achieve organizational goals and objectives. An effective leader would be a trustworthy person. It should be understood that trust if a leader is trustworthy his employees would have confidence in him even at tough times. Hence, it should be understood that if an organization has such a leader who has good relationships, is trustworthy and follows ethical standards that this would be a massive strength for the organization as this could be considered the base for an effective organization. Further, this would help the organization to develop a good impression through the community in which it operates. An effective leader would be able to communicate the organizational goals, objective, vision, knowledge and technical expertise to the organizations employees. This would help the employees of the organization to become effective too as they would gain the required knowledge, skills and an idea about organizational goals, objectives and vision. An effective leader would be able to make successful decisions based on intuition. This could lead an organization to success as at times there may be a need to make decisions quickly which maybe of very high importance and value when time for gathering information may be very limited. Groups, Teams and Leadership It is no secret that behind the success of Standard Chartered Bank, the staff of the bank has played a very important role. Effective leadership and well motivated staff has been the key for this excellent performance. To support and improve leadership development within the bank, Standard Chartered Bank now has seven core leadership development programs along with feedback programs such as the 360 feedback tool. Standard Chartered Bank gives special consideration not only for leadership but also for aspects such as employee relations, team building, culture and values, etc. Nature of Groups and Team Roles Nature of Groups A group could be defined as a collection of people who interact with each other over time in order to reach goals. These groups can either be formal or informal, where both types of these groups are seen at Standard Chartered Bank. One note worthy feature of these groups at Standard Chartered Bank is that the groups consist of individuals who come from various backgrounds, cultures and have different skills. However, Standard Chartered Bank has made sure that no conflict among bank staff occurs but instead understanding and development in multiple fields occurs; great example for this will be the employee exchange program (first time in 2008, between India and China) which the bank launched recently. Through this approach, Standard Chartered Bank has been able to, Align teams with business vision and objectives Build staff engagement and commitment Create opportunities for open and courageous conversations Clarify dependencies Accelerate high performance by leveraging strengths Team Roles A team role is, a pattern of behaviour, characteristic of the way in which one team member interacts with another whose performance serves to facilitate the progress of the team as a whole. (Laurie J. Mullins 2007, p.332) As Belbin has stated, even though there are nine team roles, it is rare to find members who are strong in all nine team roles. Standard Chartered Bank too has recognized this and in order to build up teams who are skilled in multiple ways the bank follows job rotation programs and also as it was mentioned above employee exchange programs. Through the employee exchange program or rather the talent exchange program the bank expects to forge stronger working relationships and cultural understanding between the two strategically important markets All our development is based on the philosophy of being a strengths-based organisation. We encourage individuals, managers and teams to identify and focus on their distinctive talents, and constantly challenge them to achieve more with them. We recognise that individual strengths are unique, and that each employee will deliver in a role in a different way. (Standard Chartered Bank, 2009) As it is quoted above, the bank encourages recognition of individual strengths through which the bank expects to achieve greater strengths. Through the interaction of individuals of such nature the bank expects to develop a highly talented work force through team work. Even though an individual member may not be highly talented he will be motivated to achieve and develop new strengths when he would be allowed to interact with people talented in multiple fields. Therefore, it could be understood that team roles play a vital part in the development process of the bank. Stages of Team Building Given below are the stages of team building or team development, Forming formalities are preserved and members are treated as strangers (polite but untrusting). Storming members start to communicate their feelings but probably still view themselves as part of their parent department rather than part of the team. They attack others insular attitudes while guarding their own (testing others). Norming people feel part of the team and realise that they can achieve work if they accept other viewpoints (valuing other types). Performing the team works in an open and trusting atmosphere where flexibility is the key and hierarchy is of little importance (flexibility from trust). (Carter McNamara, 1999) The above four stages of team building or development are very evident at Standard Chartered Bank. The initial two stages would be very clearly seen at the beginning when an employee would be newly selected and/or when they switch branches (consider the employee talent exchange program for example). However, as time passes by (a period of three months for the employee talent exchange program) employees would learn about each other, would value each other especially their culture and would be able to perform with flexibility which would build up from trust. An example for the last stages of the team building process would be when top executives frequently fill in for one another, whether leading regional celebrations, representing Standard Chartered Bank at key external events, or initiating internal dialogues with employees. They make their collaborative behaviour visible through extensive travel and photos of leaders from varied sites working together. Beyond the above mentioned four team development stages, there is one additional step which is known as adjourning. This would mean disbanding of the group due to completion of a task, members leaving the organization or moving on to other tasks. Team Cohesiveness It is one of the main responsibilities of a leader to ensure that the members of his work group cooperate so that the work group would be able to achieve the expected results. It is clear that cooperation among members of work groups is likely to be greater in a cohesive group resulting in beneficial effects for the organization. There are many factors which affect group cohesiveness. These factors could be categorized under four major headings as shown in the diagram below. Figure (Factors Contributing to Group Cohesiveness Performance) (Laurie J. Mullins 2007, p.307) Even though it is stated that there are disadvantages of cohesive groups such disadvantages have been minimized at Standard Chartered Bank through the unique culture which has been bread. The disadvantages of cohesive groups have been overwritten by the advantages of cohesive groups at Standard Chartered Bank resulting in an overall positive outcome. These groups have helped the bank through increased interaction between members of diverse cultures and ethnicities, growth of skills and knowledge of members through mutual help, lower turnover as the member feels that the organization has become a part of him, etc. Motivational Tools and Techniques Standard Chartered Bank follows a range of methods to encourage or motivate their employees. Motivation at Standard Chartered Bank takes place through, Learning and Development: Learning and Development process at Standard Chartered Bank starts once an employee joins the bank and this will continue till the employee resigns the organization. Standard Chartered Bank uses advance new technology to make this process an interesting one and gives encouragement for members to participate. Examples for Learning and Development at Standard Chartered Bank: Right Start, Job rotation, Talent Exchange, Core Leadership Development, 360 feedbacks etc. Employee Relations: Standard Chartered Bank follows an approach where it would deal with employees on an individual basis rather than a collective basis. This approach focuses on direct communication, managing organisational change and involving and motivating employees. Reward and Recognition: There are two elements to remuneration within Standard Chartered Bank; an annual salary and a performance based element. At Standard Chartered Bank performance would not mean just achieving goals instead it means how employees demonstrate the banks unique culture and values in their working lives. Employees would receive individual ratings but those with lowest values of ratings will not receive any performance related bonus even if they have achieved their final targets. Great Working Environment Other Facilities: Standard Chartered Bank has an environment which could be stated as one of the best environments to work at. The structures have been constructed according to expected standards and latest technology has been used where possible. Further, the bank provides other facilities, such as the day care centre where various forms of education would be given for the children of the employees, freeing the employees from the burden of worrying about their children during working hours. Impact of Technology on Team Building It is clear that technological changes have enabled Standard Chartered Bank to achieve new heights in many fields. When considering team building, as it was mentioned above in the previous section, Standard Chartered Bank uses technology right from the beginning of an employees career. Right Start is the new induction process which the bank uses for new employees. It is clear, that even this simple step will help the organization to develop better teams within shorter time periods resulting in more effective outcome. Hence, it is understood that technology has a massive impact on team building process. Our induction process for new employees was enhanced during the year with the launch of a new online virtual world. The Right Start Learning Journey offers access to critical information about our history, core businesses and supporting functions, sustainability agenda and much more in a fun and interactive way. New employees can visit the site, which was created by our Learning and Development Team, as often as they like while a discussion forum allows them to communicate with other new recruits. (Standard Chartered Bank, 2009) It should further be understood, that this same process of new employees getting to know other employees and building up successful teams would have been a very slow process causing possible inefficiencies for the organization in indirect ways. Even though technology has had its positive impact on the team building process it could be said that there are drawbacks if excessive technology is used as it may decrease person to person interactions resulting in lower awareness or understanding regarding one another. However, this situation is not yet seen at Standard Chartered Bank as the bank arranges certain social events where employees can get to know each other better, independent of their position at the bank. Conclusion Due to the strong cultural effect persisting within Sri Lanka, employees would naturally require high levels of supervision, command and control resulting in the usage of leadership styles such as authoritarian or autocratic leadership and extreme motivational theories such as McGregors XY Theory (Theory X assumptions), neither of which could not be considered as the best choice. To overcome this situation, changes to the culture within the organization could be done through an eventual process and in such a manner that employees would not feel threatened. Further, it could be understood that an effective leader could bring about the desired change even in such a culture. Behind every successful organization there would always be a highly talented and committed work force as at Standard Chartered Bank. Based on the information which was stated in the body of the report, it was possible to arrive at the conclusion that due to the unique culture which has been brought up at Standard Chartered Bank where technology and many other elements have played an important role, every employee would have an opportunity to either be an excellent team player or to be an excellent leader. To further improve, the bank can integrate more team based discussions and such activities where technology could be used in a balanced manner.

Religion Through Spiritual Explorations in Charlotte Brontes Jane Eyre

Religion Through Spiritual Explorations in Charlotte Bronte's Jane Eyre In Jane Eyre, religion is embraced through a series of spiritual explorations. Bronte portrays Jane's character and zest for religion by revealing Jane's transitions from Gateshead to Lowood, Lowood to Thornfield, and Thornfield to Moor House. Jane ultimately rejects everyone of these organized styles of worship. However, that does not mean that she rejects all their beliefs. She is forever changed by each experience and they have helped mold her view on religion and her relationship with God. Each location plays a significant role in the development of Jane's perspective on religion. Jane struggles to acquire true faith in God, which will help her overcome the obstacles of her nomadic life. Within Jane Eyre, Bronte shows a feeling of anti-Catholicism through the character of Jane?s cousin, Eliza Reed. The novel portrays Eliza as a picture of rigidity: Two young ladies appeared before me; one very tall, almost as tall as Miss Ingram,--very thin too, with a sallow face and severe mien. There was something ascetic in her look, which was augmented by the extreme plainness of a straight-skirted, black, stuff dress, a starched linen collar, hair combed away from the temples, and the nun-like ornament of a string of ebony beads and a crucifix. (Bronte 228) Eliza had certainly taken on the ritualistic side of Catholicism. (Rife) She is described as a busy person, but "it was difficult to say what she did: or rather, to discover any result of her diligence" (Bronte 234). Bronte had the same feelings toward the Catholic faith. Charlotte and many other English Protestants viewed Catholics as people who worshipped idols diligently, yet d... ...r himself. (Cashwell) As we can see, Jane is obviously affected by her experiences at each of these different stages in her life. At Lowood she learned the strict adherence to the religious and moral values that were taught there. Even though she may not have agreed with all of them, they molded her views on morality, shown in her experiences with Rochester. She also learned of sacrifice through St. John, who sacrificed true love for the greater good of his religious calling. Bronte deals with quite a few religious topics and pretty much finds something wrong with each form of Christianity. Jane finally finds a personal relationship with God, and even though she may not agree with one of the forms of organized Christianity, she finally fells a spiritual inner peace. Works Cited: Bronte, Charlotte. Jane Eyre. Boston: Bedford/St. Martin's, 1996.

President’s Narrative Report (Infinite Minds Club)

Under the supervision of the club moderator, Mr. Fhelmar I. Rondillas, the club has indulged herself to many activities that allow development and collaboration among the members and the officers. Infinite Minds Club eventually became a wholesome environment for everyone with the help of the different activities. The club has engaged into series of activities/programs. First, it was held last June __ 2012. Students were obliged to have different clubs with their own choice. As expected of what the club has to offer, a number of students outgrew as they gathered to the club’s assigned place. Our club organization included the elections of officers. Last June __ 2012, we had the induction of officers together with the officers of the different organizations. Second, July __ 2012, we had our club meeting. Third, August __ 2012, we had our Environmental Rehabilitation/Mangrove Planting and revisit at Valderama, Sta. Felomina, Iligan City. The said event was participated by some other clubs. The annual MASCI quiz bee also commenced at this month. Fourth, we had witnessed the launching of the Math and Science month. As one of the sponsors of the month, we had been into series of activities. We also had the 3rd Mother Ignacia Invitational Quiz Show together with the (sir, katung science club gali? Hahaha), Math teachers, and Science teachers and with the support of the administration. We also had the annual MASCI fair that was held at the Old chapel. A lot math related and science related were exhibited and posted. Works from the different students of the different year levels were presented. Lastly, October 2012, we had a club meeting. The meeting opened its way for the possibilities of the upcoming Indigay. This school year, we did sponsored masses. Those were the activities that my club underwent and accomplished. With everybody’s support and cooperation, everything was made possible.

Competitive Advantage in Fast Fashion

*CHAPTER* 3 COMPETITIVE ADVANTAGE *IN THE* FAST FASHION Fast fashion is a term used to describe clothing collections which are based on the most recent fashion trends presented at Fashion Week in both the spring and the autumn of every year. These trends are designed and manufactured quickly and cheaply to allow the mainstream consumer to take advantage of current clothing styles at a lower price. This chapter highlights the sources of competitive advantage that may exist inside the field of fast fashion, as shown in Figure 3. , studying in detail the major players who are part of: H&M, Gap, Zara and Benetton. {draw:frame} FIGURE 3. 1 : THE SOURCES OF COMPETITIVE ADVANTAGE *3. 1 *SUPPLY CHAIN A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier) to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered t o the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains are increasingly being seen as integrated entities, and closer relationships between the organizations throughout the chain can bring competitive advantage, reduce costs, and help to maintain a loyal customer base. There are two main differences to value chains: Supply chains are more detailed since they incorporate not only activities. Supply chains connect intra-organizational value chains by products, services, and information flows. Supply chains underlie value-chains because, without them, no producer has the ability to give customers what they want, when and where they want, at the price they want. Producers compete with each other only through their supply chains, and no degree of improvement at the producer's end can make up for the deficiencies in a supply chain which reduce the producer's ability to compete. {draw:frame} FIGURE 3. 2: EXAMPLE OF SUPPLY CHAIN A typical supply chain begins with ecological and biological regulation of natural resources, followed by the human extraction of raw material, and includes several production links (e. . , component construction, assembly, and merging) before moving on to several layers of storage facilities of ever-decreasing size and ever more remote geographical locations, and finally reaching the consumer. All organizations have supply chains of varying degrees, depending upon the size of the organization and the type of product manufactured. These networks obtain supplies and components, change these materials into finished products and then distribute them to the customer. Managing the chain of events in this process is what is known as supply chain management. The Council of Supply Chain Management Professionals (CSCMP) defines Supply Chain Management as follows â€Å"Supply Chain Management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, supply chain management integrates supply and demand management within and across companies. Supply Chain Management is an integrating function with primary responsibility for linking major business functions and business processes within and across companies into a cohesive and high-performing business model. It includes all of the logistics management activities noted above, as well as manufacturing operations, and it drives coordination of processes and activities with and across marketing, sales, product design, finance and information technology. Effective management must take into account coordinating all the different pieces of this chain as quickly as possible without losing any of the quality or customer satisfaction, while still keeping costs down. The first step is obtaining a customer order, followed by production, storage and distribution of products and supplies to the customer site. Customer satisfaction is paramount. Included in this supply chain process a re customer orders, order processing, inventory, scheduling, transportation, storage, and customer service. A necessity in coordinating all these activities is the information service network. In addition, key to the success of a supply chain is the speed in which these activities can be accomplished and the realization that customer needs and customer satisfaction are the very reasons for the network. Reduced inventories, lower operating costs, product availability and customer satisfaction are all benefits which grow out of effective supply chain management. Furthermore, market demands, customer service, transport considerations, and pricing constraints all must be understood in order to structure the supply chain effectively. These are all factors, which change constantly and sometimes unexpectedly, and an organization must realize this fact and be prepared to structure the supply chain accordingly. 3. 1. 1 DECISIONS ON THREE LEVELS Supply chain management decisions are often said to belong to one of three levels; the strategic, the tactical, or the operational level. Figure 3. shows the three level of decisions as a pyramid shaped hierarchy. The decisions on a higher level in the pyramid will set the conditions under which lower level decisions are made {draw:frame} FIGURE 3. 3 HIERARCHY OF SUPPLY CHAIN DECISIONS On the strategic level long term decisions are made. According to Ganeshan and Harrison, these are related to location, production, inventory, and transportation. Location decisions are concerned with the size, number, and geo graphic location of the supply chain entities, such as plants, inventories, or distribution centers. The production decisions are meant to determine which products to produce, where to produce them, which suppliers to use, from which plants to supply distribution centers, and so on. Inventory decisions are concerned with the way of managing inventories throughout the supply chain. Transport decisions are made on the modes of transport to use. Decisions made on the strategic level are of course interrelated. For example decisions on mode of transport are influenced by decisions on geographical placement of plants and warehouses, and inventory policies are influenced by choice of suppliers and production locations. Modeling and simulation is frequently used for analyzing these interrelations, and the impact of making strategic level changes in the supply chain. On the tactical level medium term decisions are made, such as weekly demand forecasts, distribution and transportation planning, production planning, and materials requirement planning. The operational level of supply chain management is concerned with the very short term decisions made from day to day. Figure 3. 4 shows for each level types of decisions made. *3. 4 FIGURE:* DECISION-MAKING LEVELS IN SUPPLY CHAINS . 1. 2 DRIVERS OF SUPPLY CHAIN Drivers determine supply chain performance and are the managerial levers on which to guide the operational process. For each driver manager must make tradeoffs beetween efficiency (cost) and responsiveness. {draw:frame} FIGURE 3. 5: DRIVERS OF SUPPLY CHAIN Facilities Are the actual physical locations in the supply chain network where product are stored, assembled or fabricated. The two major types of facilities are: Production sites( factories) Storage sites (warehouse). Components of facilities decisions are: Location: centralize to gain economies of scale (major efficiency) or decentralize to be more responsive. Other issues include quality and costo f workers, costo f facility, infrastructure, taxes, quality of life,etc. Capacity: excess capacity allows a company to be more responsive to changes in the level of demand (major flexibility), but at the expensive of efficiency. Manufacturing methodology: decisions between a product or functional focus, between flexible or dedicated capacity. Warehousing methodology: choose between: SKU storage: stores all of one type of product together, Job lot storage: stores different products together to satisfy a particular customer or job, cross-docking: product is not actually warehoused in the facility, instead the facility is used to house a process where trucks from suppliers arrive and unload large quantities of different products. These large lots are then broken down into smaller lots. Smaller lots of different products are recombined according to the needs of the day and quickly loaded onto outbound trucks that deliver the product to their final destination. Inventory Inventory encompasses all the raw materials, work in process, and finished goods within a supply chain. Changing inventory policies can dramatically alter the supply chain’s efficiency & responsiveness. There are three basic decisions to make regarding the creation and holding of inventory: C_ycle Inventory_: this is the amount of inventory needed to satisfy demanf for the product in the period between purchases of the product. Safety Inventory: inventory that is held as a buffer against uncertainly. If demand forecasting could be done with perfect accuracy, then the only inventory that would be needed would be cycle inventory. Seasonal Inventory: this is inventory that is built up in anticipation of predictable increases in demand that occur at certain times of the year. Inventory has different impacts: Can increase amount of demand that can be met by increasing product availability Can reduce costs by exploiting economies of scale in production, transportation, and purchasing. Can be used to support a firm’s competitive strategy. More inventory increases responsiveness, less inventory increases efficiency (reduces cost). Can significantly affect material flow/cycle/throughput time because if you move your inventory faster, you don’t need as much inventory (inventory velocity). Transportation Transportations entails moving inventory from point to point in the supply chain. Components of transportation decisions are: Mode of transportation: is the manner in which a product is moved (air, truck,rail, ship, pipeline,eletronic). Each mode differs with respect to speed, size of shipments, cost, and flexibility. Routes and networks selection: are respectively paths along which a product can be shipped and a collection of locations and routes. In house or out source the transportation function. Many companies use third-party logistics provider (3PL) to perform some or all of their transportation activities. Usually companies outsource the distribution. Faster transportation allows a supply chain to be more responsive but generally less efficient. Less than full truckloads allows a supply chain to be more responsive but generally less efficient. Transportation can be used to support a firm’s competitive strategy. Customers may demand and be willing to pay for a high level of responsiveness. Information Information serves as the connection between various stages of a supply chain, allowing them to coordinate & maximize total supply chain profitability. It is also crucial to the daily operations of each stage in a supply chain for a production scheduling system. Components of information decisions are: Push versus pull: push systems (like MRP) need information on anticipated demand to create production and purchasing schedules. Pull systems (like JIT) need accurate qnd quick information on actual demand to move inventory and schedule production in the chain. Enabling technologies: many technologies exist to share and analyze information in the supply chain: EDI: electronic data interchange. ERP: enterprise re source planning. SCM software: Supply Chain Management Software Internet Forecasting & planning to anticipate and meet future demands. Available information is used to make tactical forecasts to guide the setting of monthly and quarterly production schedules & time table Coordination and information sharing Information allows supply chain to become more efficient and more responsive at the same time (reduces the need for a trade-off) {draw:frame} {draw:frame} TABELLA 3. 6 CONSIDERATIONS FOR SUPPLY CHAIN DRIVERS 3. 1. 3 SCOR The Supply Chain Operations Reference Model (SCOR Model) is one of the very few dedicated methods for supply chain modelling and has also a high relevance for many industries. The model has been developed by The Supply-Chain Council (SCC), an independent not-for-profit firm with more than 1,000 corporate members. It was first introduced in 1996 and is now available in version 8. 0. In contrast to generic process modelling methods, SCOR is actually a reference model, because it defines activities that can be found in any supply chain. In that sense, it can be regarded as a successor to the value chain model by Porter. The SCOR model covers the followings levels of abstraction: Top level ( level 1) Configuration level (level 2) Process element level (level 3) Implementation level {draw:frame} *FIGURE 3. 7*:* *SCORE PROCESS FRAMEWORK Top level SCOR defines five core management processes called process types that are relevant for all firms in a supply chain (scope of the model). Three of these process types form a sequence of source, make, and deliver. The process types are: Source (S) Processes that procure goods and services to meet planned or actual demand. Make (M) Processes that transform a product or service to a finished state to meet planned or actual demand. Deliver (D) Processes that provide finished goods and services to meet planned or actualdemand, typically including order management, transportation management,and distribution management. Return (R) Processes associated with returning or receiving returned products for any reason. These processes extend into post-delivery customer support. The top level, however, can not be instantiated, thus this level defines only the scope of the SCOR model. The modelling of actual or planned supply chains starts on the next level. Configuration level beyond the five main processes, there is a further classification of processes into three categories: Planning: processes that plan resources to meet demand in appropriate time intervals. re repeated periodically and have a great influence on the response time of the supply chain. Execution: processes as executive involved in the activities of scheduling, sequencing, processing, testing, and handling of products, affecting the cycle time of the order fulfillment. Enable: processes involving information and managerial aspects that affect the other two processes From five main processes the SCOR model identifies 26 processes of second l evel, each belonging to one of three process type defined above. For instance, categories for ‘source’ are: S1 ‘source stocked product’: The procurement, delivery, receipt and transfer of raw material items, subassemblies, product and/or services. S2 ‘source make-to-order product’: The procurement and delivery of a product that is built to a specific design or configured based on the requirements of a particular customer order. S3 ‘source engineer-to-order product’: The negotiation, procurement and delivery of engineer-to-order assemblies or specialized product or services that are designed and built based on the requirements or specifications of a particolar customer order or contract. By selecting the relevant process categories, a firm can represent its operational strategy. For instance, the relevant source categories need to be selected and mapped to respective products and/or services (thus a firm can implement multiple source categories reflecting diverse sourcing strategies). Process element level The process element level decomposes the process categories by adding process element definitions, process element information inputs/outputs, process performance metrics, and best practices. SCOR does not define functions and organizational entities for these elements, thus it strictly focuses processes. Implementation level Implementation level aims to implement management practices, defining the elements necessary to gain a competitive advantage and adapt to changes. METRICS SCOR defines metrics that measure effectiveness and efficiency of a supply chain. For this purpose, metrics form a hierarchy along the SCOR levels: Level 1 metrics relate to the overall planning of a supply chain (thus these metrics are differentiated to source, make etc. ). Level 2 and 3 metrics decompose the level 1 and 2 metrics respectively. Each level 1 metric contribute to realising a performance attribute. A performance attributes is a characteristics of the supply chain that permits it to be analysed and evaluated against other supply chains with competing strategies. For instance, a supply chain is reliable to a certain degree or not. The level 1 metrics and associated performance attributes are defined as follows: FIGURE 3. 8: THE LEVEL 1 METRICS 1. Production Strategic decisions regarding production focus on what customers want and the market demands. This first stage in developing supply chain agility takes into consideration what and how many products to produce, and what, if any, parts or components should be produced at which plants or outsourced to capable suppliers. These strategic decisions regarding production must also focus on capacity, quality and volume of goods, keeping in mind that customer demand and satisfaction must be met. Operational decisions, on the other hand, focus on scheduling workloads, maintenance of equipment and meeting immediate client/market demands. Quality control and workload balancing are issues which need to be considered when making these decisions. . Supply Next, an organization must determine what their facility or facilities are able to produce, both economically and efficiently, while keeping the quality high. But most companies cannot provide excellent performance with the manufacture of all components. Outsourcing is an excellent alternative to be considered for those products and compone nts that cannot be produced effectively by an organization’s facilities. Companies must carefully select suppliers for raw materials. When choosing a supplier, focus should be on developing velocity, quality and flexibility while at the same time reducing costs or maintaining low cost levels. In short, strategic decisions should be made to determine the core capabilities of a facility and outsourcing partnerships should grow from these decisions. {text:list-item} 3. 2. 1PUSH VS PULL {text:list-item} {text:list-item} {text:list-item} 3. 3. 2. 1 CRP {text:list-item} {text:list-item} {text:list-item} {text:list-item} 3. 6 KEY INTERNATIONAL COMPETITORS Fast-fashion specialty retailers with exceptional speed-to-market have outperformed department stores and less nimble specialty stores not only in their profit argins, but also in their pace of revenue growth, according to a study by The Sage Group LLC’s Apparel and Retail Group. The mayor comparable players that compete in fast fashion at international level are: Inditex -Zara Benetton H&M Gap Each of them has a vertical scope. Zara owned much of its production and most of its stores, the Gap and H&M, which were the two largest specialist apparel retailers in the world, ahead of inditex, owned most of their stores but o utsourced all production. Benetton, in contrast, has invested relatively heavily in production, but licensees ran its stores. The four competitors were also positioned differently in product space from Inditex’s chains. Inditex’s flagship brand, Zara, is relatively perceived as more fashionable than all the other three ann prices less than Benetton and Gap but higher than H&M. In these fuor competitors, Benetton and Gap place a relatively less fashionable and higher price, while Zara and H&M is more fashionable and price lower. {draw:custom-shape} {draw:custom-shape} {draw:custom-shape} {draw:custom-shape} {draw:line} {draw:line} {draw:line} {draw:frame} {draw:frame} Meanwhile, the major Italian player ‘Benetton’ marched on high street with, offering colorful designer clothing for the whole family. Their strategy resulted affirmative with noticeably contemporary window showcase in all stores with independent units. The company was successful in Britain, however, having a long standing in the market, they witnessed failure to keep up pace with the accelerated high fashion pressure by the other European competitors, which are now the known as Mango, H&M and Zara. The rise of these competitors on high street has been witness successful because of a higher demand for fast fashion. Styles showed in magazines and other advertorials are what people wish to wear. Top designers have created collection extensions, which cater people who can afford to spend their hard earned cash on triple figure. This resulted success to the affordable collection of European fashion brands A Swedish player, H&M offered readymade clothing stores – stocked with fashionable collection at reasonable costs. Its successful strategy was its own slogan ‘fashion & quality at the best price’ innovative design, reasonably priced and competent logistics. Based in Stockholm, a team of 100 fashion designers assures that nothing has been imitated from the runway platforms. They are mostly inspired from street-trends, movies, magazines and exhibitions. Impressively, the designs reach retail shelves within 2-3 weeks. H&M’s high profile designer tie-ups with Karl Lagerfield and Stella McCartney have resulted entire collections available to the mass people at lower prices. This strategy is supported by huge advertising campaigns, which easily compete with the major brand. In a world of advertisements and promotions, there is one store that has made strategy to not to spend penny on advertising, â€Å"Zara†, a wing of Europe's biggest, rapidly evolving and most triumphant fashion clothing retailers, Grupo Inditex. Other well popular stores in similar chain are Massimo Dutti, Bershka and Pull and Bear. Inditex operates business via more than two thousand stores in 56 countries. The first Zara shop was launched in 1975 at La Coruna, Galicia and at present it operates more than four hundred owned stores globally. In the previous five years they have witnessed sales up by 25 percent year on year. Zara runs its own design and production unit in La Coruna, Spain, which leads cancellation of the large out-sourcing operations, like H does in over nine hundred firms. It is modern, offering up-to-date lifestyle yet standard clothing lines for men, women and children. Zara offers reasonably priced, radical clothing, however, not of the top quality, which will last only for some seasons. As same as Zara, H can also put designs on retail shelves within three weeks. Its product assortment is cheap and small yet frequent, offering consumers huge selection that results repeated visits to their stores to find â€Å"What’s New†. Hitherto, Zara has launched over ten thousand new designs and most of these will just be attainable for few weeks. Another Spanish player, Mango is a reputed multinational brand devoted to designing, producing and selling fast fashion and accessories only for women. Its clothing line includes Suit, Casual Sport, and Mng Jeans. It might not be as huge as H or Grupo Inditex, but has played excellent particularly in the UK. No shopping malls resemble absolute with exclusive of these three brands. The pace of these companies in responding to changing consumer demands is an ideal proof to the retailing, producing and logistics skills needed in latest fashion industry. These new strategies are set up to develop aptitude to take advantage of the challenges of a competitive world market. Besides the diversification in product assortments there is one thing common in all these brands that is â€Å"intelligent logistics†. Well-organized communication between sales staff directly to the headquarters and producers lead them to match steps with high speed turnover. The fact is that buyers are becoming preference savvy and smarter in order to what they shop. Even though they always have their preferred designer, they are also acquainted that a throwaway piece of fast fashion from a retail chain store will complete their outfit choices. At so reasonably priced all of these retail perceptions play on Friday nights when people feels they have nothing to wear. Retailers are sent in a scuffle to make-out the major catwalk trends from the drawing sheets to the sales shelves as fast as possible.

Prime Minister John Turner Biography

Prime Minister John Turner Biography John Turner was a Prime Minister in waiting for too long. By the time John Turner had waited out the Trudeau era and was elected Leader of the Liberal Party to become Prime Minister in 1984, the country was fed up with the Liberal government. Turner himself seemed out of date and out of touch. He made a number of political gaffes, including calling an early election, and the Conservatives won a massive majority. For six years as Leader of the Opposition, John Turner fought, unsuccessfully, against free trade with the United States. Prime Minister of Canada 1984 Birth June 7, 1929, in Richmond, Surrey, England. John Turner came to Canada as a young child in 1932. Education BA - University of British ColumbiaRhodes Scholar, BA in Jurisprudence, BCL, MA - Oxford UniversityUniversity of Paris Profession Lawyer Political Affiliation Liberal Party of Canada Ridings (Electoral Districts) Over the years, Turner held ridings in three different provinces - Quebec, Ontario and British Columbia. St-Laurent - St-Georges 1962-68Ottawa-Carleton 1968-76Vancouver Quadra 1984-93 Political Career of John Turner John Turner was first elected to the House of Commons in 1962.He was a Minister without Portfolio from 1965 to 1967, and Minister of Consumer and Corporate Affairs from 1967 to 1968.He ran for the leadership of the Liberal Party in 1968 but lost to Pierre Trudeau.In 1968, John Turner became Solicitor General of Canada.He was Minister of Justice from 1968 to 1972.From 1972 to 1975, John Turner was Minister of Finance. In 1974, his second budget was voted down in the House of Commons, and a general election was called.The Liberals won the 1974 general election and John Turner was again appointed Minister of Finance.Unhappy with the job of Minister of Finance and the economic policy of the government, John Turner resigned in 1975 to return to the practice of law in Toronto.When Prime Minister Pierre Trudeau retired in 1984, John Turner was elected Leader of the Liberal Party of Canada.John Turner was sworn in as Prime Minister of Canada in 1984.A series of patronage appointments by both Pierre Trudeau and John Turner, and an electorate tired of 16 years of Liberal government led to a Conservative victory in the 1984 general election. Brian Mulroney became Prime Minister. John Turner stayed as Leader of the Opposition for six years from 1984 to 1990.He retired from politics in 1993 and returned to the practice of law.