Lessons From Lafarge Essay Example | Topics and Well Written Essays - 1500 words

Exercises From Lafarge - Essay Example Targets of ISO 14001:2004 The interior destinations of the ISO 14001:2004 are give affirmation to the board to controlling authoritative procedures and exercises affecting the earth, and to guarantee the representatives that they are working in an ecologically mindful association. The outer destinations are guaranteeing outside partners like clients, network and administrative offices about the natural issues, complying with the ecological guidelines. Different targets incorporate supporting the organization’s cases and collaborations about its natural standards, systems and procedures. A structure for speaking to consistence by methods for suppliers’ explanation of similarity has likewise been an article (ISO 2012). Natural Performance Measurement The original of condition execution assessment (EPE) included organizations with receptive ecological arrangements. The emphasis was on the hazard the board and managing condition related expenses. The accessible natural exhi bition information was utilized for inner reason (Bennett et al. 1999, p.84). The second era condition execution assessment is set apart by the consideration of partner the board in the structure. Organizations moving to this stage center around site announcing. This stage is additionally impacted by the all out quality administration. This requires progressively definite information. The subsequent age concentrated on asset profitability with squander minimization (Bennett et al. 1999, pp.84-86). The proposed ISO 14031 can be displayed looking like precious stone. There are three significant features of condition execution assessment. The principal feature reflects heft of quantifiable exercises managing vitality, materials, emanations and squanders. The subsequent aspect is a west-east pivot which is mostly the item chain that incorporates the ecological effects of the provider. The diamond’s north south exercises have two destinations. The first is to survey the direct eco logical effects related with the maintainability of the organization’s exercises. The other is to evaluate the business side of the natural activities (Bennett et al. 1999, pp.87-90). In 2011, Lafarge stayed in the Dow Jones Sustainability Index (DJSI). The gathering scored high in the natural detailing, atmosphere methodology, biodiversity and partner duty. This is assessed by Sustainability Asset Management for the DJSI (Lafarge, 2012). Ernst and Young inspected the Group's social and natural markers and affirmed its practices (Lafarge, 2012). Corporate Environmental Strategies Managers ought to consider company’s position as for both market and nonmarket factors while settling on an ecological technique. Market procedure utilizes natural issues for making an upper hand for the organization. This is accomplished through cost investment funds and expanded benefits. Nonmarket technique centers around the communications with partners like, controllers, nearby networks, and ecological premium gatherings. These methodologies consider making an incentive by improving in general execution and picture. Nonmarket methodologies may introduce upper hands by perceiving new open doors made by guideline or open estimation (Maxwell, J. et al. , 1997, pp.118-119). The proactive companies’ administrators perceived various upper hands emerging from their natural reaction. The responsive organizations couldn't relate their corporate natural mindfulness systems

Research Proposal Assignment - A Stable Customer Service In Banking

Undertaking Title Effect of a steady Customer Service on Loyalty of Clients in the financial space Unique With banking being a piece of an innovation driven industry, banks working in this area separate themselves on different parameters like Customer Services, assortment of the items and so forth. It is the obligation of the banks to utilize these variables successfully to hold the customers for a period sufficiently long to assist it with covering the expense of getting the customers and an opportunity to strategically pitch its items to a bigger customer base. We wish to analyze if a solid client care truly increases the value of consumer loyalty and client steadfastness in any capacity. We wish to outline input of numerous customers utilizing diverse banking servicesindicating the various variables which have increased the value of them. The extent of this venture is extremely wide and would assist us with inspecting myriadaspects that include an incentive as far as consumer loyalty and client devotion. This investigation can additionally help the different financial organizations to comprehend what are the administrations that customers esteem the most and what are where in the administrations must be enlarged with the goal that they can accomplish the objective of improving consumer loyalty. Writing Review The astuteness of banking specialist co-ops to concentrate on the customers is one of the most testing situations looked by them toward the start of 21st century. There is a lack of research on the client care and fulfillment assessment in the financial field. Be that as it may, the each financial establishment collates information about consumer loyalty and they break down their information all alone for their particular firms. Consumer loyalty is taken as full wellbeing for the financial specialist organizations and incorporates an incentive for cash, satisfactory faithfulness, administration arrangement and relationship the executives. The forerunner to prosperity of the firm is taken from the contact focuses between the clients and the administration subjects of the financial foundations. Consumer loyalty is the primary fundamental of administrative choice taking over the globe throughout the previous 2 decades. There are striking business greatness instruments, for example, the Malcolm Baldrige Award and the European Foundation of Quality Management that focus on the significance of both assessing consumer loyalty and using sound assessment strategies for such work. Consumer loyalty has just accomplished an enormous exposure through the National Customer Satisfaction Indices structured from the information on Andersen et al. (1994). These files are utilized for concurrent taking note of in USA, Sweden and Denmark. From that point forward, the fixation on client satisfaction has moved from only a little assessment issue to a key should that effects firm intensity, Schneider and Bowen (1999a, 1999b). Client contacts are isolated into 3 gatherings closeness, correspondence time and data extravagance (Chase (1981) and Soteriou and Chase (1998)). The exploratory proof from the administration isolation has demonstrated that the client contact measurements might be used as forerunner of client reaction in answer to their watched administration quality levels from the celebrated 5 verticals of the ServQual model-compassion, dependability, physical assets, responsiveness and affirmation. A common bank may take its customers briskly as indicated by the money they store or acquire. Different banks have been utilizing control and security as issues for their exceptionally moderate and lamentable administrations. As of late, many assistance firms, for example, carriers and cheap food have indicated that client administrations could be a brisk and fun experience for the two clients and laborers without surrendering costs, control and benefits. Numerous banks have now executed these contemporary help benchmarks and began contrasting with non banking foundation with investigate about the best practice. For instance, BayBanks of Massachusetts has utilized the mail arranges firm L.L. Bean, well known for its great requests taking and administrations conveyance framework as its model for future. A major effect of this useful benchmark is the presentation of 24 hours client support focuses that answer the inquiries and issues and empower and give the banks item and administration. The middle empowers customers to have a financial records anyplace or get an overdraft at whenever. The ATM is reconstructed to act from only a money supplier to an alternate and simple record assistant. It could purchase and sell common reserve now. Seeing L.L. Bean, Bay Banks gave a 50 pages index to help customers learn and have more than 160 money related administrations from it. Seattles Seafirst Bank, advanced itself to a retailer from a retail bank and has contrasted and retailer having for best client administrations, for example, carriers and drive-through joints. Seeing these models, Seafirst structured a 5 minutes guarantee which said that-Waitingover five moment in line will make the bank give $5 inthe customers account. Also, when the customer grumbles of any issue, they get $5. The banks branches have official individuals to manage and welcome customers to the correct teller like the visitor connection official or secretary of five star inn. The greeter sees an outlet at the section of the banks. To center this administrations brain science, branch chief is appraised at a bargain just as on administrations objective. Getting or in any event, overshooting deal focus without getting customer fulfillment objective would not make branch supervisors to get the banks respected Gold Club award. Authorities from the CEO office are persuaded and requested to go to branch every now and again to see administrations and experience the activities by and by. To re-design and overhaul its branches to increase administrations, Seafirst got the administration of a known individual from the Godfathers Pizza chains. One advantage was building the teller see midriff high. It was presently increasingly open and individual when contrasted with the old piece that is undermining and manufactures a barricade between the clients and the tellers. Like Seafirst, Citicorp sees itself as to a lesser degree a bank and all the more a creation unit which makes crude material in the style of utilization structure, archive and client demand and the enormous item is a satisfied customer. Office, division, work area and other work station help as the machine and hardware of the records creation unit. In modifying the bank into an effective and great administrations center point, the CEO John Reed, engineer, utilized the taking in he gained from his visits to Cummins Engine, Ford Motor, Core Industries, General Electric and Exxon. The essential advance he reengineered was the reserved alcove activity that involves different tedious advances. Back workplaces of bank are mainstream for moderate administration that hinders bleeding edge activity and the last customer administrations. By utilizing the hypothesis of large scale manufacturing, normalization and smoothing out of steps, Citicorp needs to take out this significant detour. The ba nk contrasted itself and Chrysler in having its utilitarian office to work productively as group. Distinctive bank surrendering their old funds and controls picture have correspondingly had new help methodology and practice. Banco Frances made a data community or reference books in the hold up place where customers could go in numerous little and large pieces of information of significant information on administration, for example, the normal assets to end exchanges and the association's item and administration. Information on the bustling day or days of the branches are appeared to make the client need to forestall this period. In the ongoing part of Garanti Bankasi, telephone line only for customerservices was put. A customer could pickup the telephone and tell his protests, questions or challenges. This assistance was made to give the strong's guarantee to support and furthermore fill in as the clients possibly possibility if everything else doesn't work. In like manner, ASB Banks Limited made a telephone community to get, do and understand clients protest. It likewise contain s clients inputs programs where whomever the clients grumble to-staff representatives or chiefs would be responsible for getting the client answers about the working and whereabouts of their grievances. The banks clients administration focus has made 2 customer stream or line to give administration all the more productively. One is for credit and same item that need tweaked and individual assistance. The other line was for the monotonous and standard administrations like stores and withdrawals. By making 2 administrations condition that allude to 2 separate types of prerequisites, administrations are increased and secured. Bank Pertnian Malaysia has given the hypothesis of portable banking. For the straightforwardness and fun of customers remaining in longhouses on the stream bank of the Sarawak River, the banks have given gliding branch on pontoon which gives entire branches banks administration. To enlarge administrations, BPM has reengineered its ATMs to give money just as item cost and information on its item and administration as well. The Korean Technology Bank Corporations set up a Technology Finance server farm to give the various prerequisites of its clients, a considerable lot of whom are making joint endeavor abroad. The Center would have an enormous database of information inspected from various data from inner and outside source. By getting the databases, customer would have information on neighborhood data, specific innovation and other data connected to the mergers they are setting up. To help process and create money related foundation, for example, the Industrial Development Bank of In dia needs borrower to give credit applications structure in electric floppy plate. Many bank and money related organization have gained such a significant ground in enlarging and reengineering customer benefits that they themselves turned into the benchmark of other organization outside the bank parts. For instance, American Express-the Mastercards firm is a famous breaking point to duplicate when it is to improve a company's charging step. Amex's charging is considered the fastest and generally right in the globe in all enterprises. Xerox, the model for different quality waysutilised the Amex model in improving its charging framework. In China, the model for clients administrations and clients civility is alarmingly a bank: The Industrial and Commercial Bank. M

CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE Assignment

CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE Assignment CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE â€" Assignment Example > Creative Thinking and Reflective StyleCreative Thinking and TheoriesCreative Thinking and Environment Whitelaw (2006) reported that the “cultural and socio-economic factors are examples of those that can affect a student’s learning”(p. 14). Feuerstein (2000) reported that there is a positive correlation between a parents’ socio-economic status and their involvement in schools. The level of a parent’s involvement in school activities has a positive impact on the student’s outlook towards school. However, teachers are less prone to harness the familial resource due to the teacher’s skepticism in the reliability and resourcefulness of their parent pool. (Epstein, 1985). [Peña (2000), Whenever parent participation is used they are usually excluded from the loop which has a direct bearing on their child’s education, but are relegated by teachers to more community oriented roles, not connected with curriculum. In certain circumstances parents can serve as viable entitie s from the domicile. Further, in some cultures, the typical teacher-parent relationship bodes well, as Mexican Americans are likely to be reluctant about making school visits. (Peña, 2000). The family environment is the primary setting for a childs growth; within this environment other types of development customarily takes place; family interactions usually precipitate various levels of intellectual stimulation and emotional security which enables creativity. (Harrington, Block Block, 1987). A stimulating family environment which presents the presence of assorted types of reading materials, coupled with the provision of cultural activities, appreciably assist in promoting creativity. (Simonton, 1984). Carl Rogers (1954) puts forth the argument that a positive family environment, can serve as a firm foundation for the spawning of creative work. The School Environment and the Teacher Enhancing Creativity: Feldman (2000) puts forth the argument that all of the associations which th e student has ( teachers, mentors, parents, peers, and cultural groups) may impact upon the level of a student’s creativity. [Reisman and Bach, (2002) amplify the point of Feldman by asserting that, while educational and social roles can directly affect a student’s creative abilities, they are not the sole determinant, a student can possess certain innate qualities which are not measured by traditional pedagogical means. As a consequence, educators may have no idea of a particular student’s creative scope, because it exists either beyond or outside of the educator’s purview. Creative thinking and age: In attempting to assess the relationship and the level thereof, between creative thinking and a student’s age, several researchers concerning themselves with this issue, have broken it down into two groups. In the first group, a number of the researchers assert that creativity initially appears in preschool students. Gardner (1982), attempted to show the presence of creativ ity at an early age. It was his contention that preschool students possess an expressive artistic creativity. Additionally, Gardner accepted the commonly held idea, that the development process in younger children followed a U- shaped pattern during the course of their development. He maintained the existence of high levels of creativity in preschool children. He goes on to suggest that the rigid perimeters of the traditional classroom, has a negative affect on the creative expansion of school age students. In keeping with his adherence of the U-shaped theory, Gardner offers the idea that the perimeters of the forced conformity has been internalized by preadolescence and there is an increase in creativity during this period of development, through adulthood. The second group of researchers Claxton et al. (2005) Ponomarev (2008) do not absolutely negate the onset of creativity in preschool students, however they suggested that an

CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE Assignment

CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE Assignment CREATIVE THINKING AND REFLECTIVE IMPULSIVE STYLE â€" Assignment Example > Creative Thinking and Reflective StyleCreative Thinking and TheoriesCreative Thinking and Environment Whitelaw (2006) reported that the “cultural and socio-economic factors are examples of those that can affect a student’s learning”(p. 14). Feuerstein (2000) reported that there is a positive correlation between a parents’ socio-economic status and their involvement in schools. The level of a parent’s involvement in school activities has a positive impact on the student’s outlook towards school. However, teachers are less prone to harness the familial resource due to the teacher’s skepticism in the reliability and resourcefulness of their parent pool. (Epstein, 1985). [Peña (2000), Whenever parent participation is used they are usually excluded from the loop which has a direct bearing on their child’s education, but are relegated by teachers to more community oriented roles, not connected with curriculum. In certain circumstances parents can serve as viable entitie s from the domicile. Further, in some cultures, the typical teacher-parent relationship bodes well, as Mexican Americans are likely to be reluctant about making school visits. (Peña, 2000). The family environment is the primary setting for a childs growth; within this environment other types of development customarily takes place; family interactions usually precipitate various levels of intellectual stimulation and emotional security which enables creativity. (Harrington, Block Block, 1987). A stimulating family environment which presents the presence of assorted types of reading materials, coupled with the provision of cultural activities, appreciably assist in promoting creativity. (Simonton, 1984). Carl Rogers (1954) puts forth the argument that a positive family environment, can serve as a firm foundation for the spawning of creative work. The School Environment and the Teacher Enhancing Creativity: Feldman (2000) puts forth the argument that all of the associations which th e student has ( teachers, mentors, parents, peers, and cultural groups) may impact upon the level of a student’s creativity. [Reisman and Bach, (2002) amplify the point of Feldman by asserting that, while educational and social roles can directly affect a student’s creative abilities, they are not the sole determinant, a student can possess certain innate qualities which are not measured by traditional pedagogical means. As a consequence, educators may have no idea of a particular student’s creative scope, because it exists either beyond or outside of the educator’s purview. Creative thinking and age: In attempting to assess the relationship and the level thereof, between creative thinking and a student’s age, several researchers concerning themselves with this issue, have broken it down into two groups. In the first group, a number of the researchers assert that creativity initially appears in preschool students. Gardner (1982), attempted to show the presence of creativ ity at an early age. It was his contention that preschool students possess an expressive artistic creativity. Additionally, Gardner accepted the commonly held idea, that the development process in younger children followed a U- shaped pattern during the course of their development. He maintained the existence of high levels of creativity in preschool children. He goes on to suggest that the rigid perimeters of the traditional classroom, has a negative affect on the creative expansion of school age students. In keeping with his adherence of the U-shaped theory, Gardner offers the idea that the perimeters of the forced conformity has been internalized by preadolescence and there is an increase in creativity during this period of development, through adulthood. The second group of researchers Claxton et al. (2005) Ponomarev (2008) do not absolutely negate the onset of creativity in preschool students, however they suggested that an

A Comparative Study Of The Banks In Nepal - Free Essay Example

Sample details Pages: 12 Words: 3601 Downloads: 9 Date added: 2017/06/26 Category Statistics Essay Did you like this example? A well-structured financial sector is of special importance for the economic growth in both developed and developing countries. The commercial banking sector should be well organized and efficient for the growth of an emerging economy. Commercial Banks which forms one of the backbones of the financial sector are the intermediary link in facilitating the flow of funds from the savers to investors. Don’t waste time! Our writers will create an original "A Comparative Study Of The Banks In Nepal" essay for you Create order By providing a means of mobilizing domestic savings and proficiently channeling them into productive investments, they lower the cost of capital to investors and accelerate the economic growth of a nation. No underdeveloped country can well progress without setting up a sound system of commercial banking system.[1] Nepal is an agrarian based economy with a GDP of $ 33.26 billion[5]. Nepalese banking industry has considerable changes over past decades because of liberalization, deregulation, improving information technology and globalization. The financial sector liberalization resulted in the entry of new firms in the market, which also added more pressure on competitiveness of individual banks; deregulation widened the scope of activities and expanded the banking activities; advancement in technology resulted into new methods to perform banking activities. Furthermore, the banks, these days, are entering into non-banking markets while other financial institutions are entering into the banking markets that have conventionally been served by the banks. These changes have altered the structure and market behavior of Nepalese banking industry. Currently there are 26 commercial banks out of which 6 are joint venture banks, 63 development banks and 77 financial institutions in Nepal. At present there is only one international bank operating in Nepal which is Standard Chartered Bank Limited. It started operation in Nepal since 1987 as a joint-venture operation and today it is a part of Standard Chartered Group having an ownership of 75% in the company and 25% shares owned by the Nepalese public. Nepal after its commitment to the World Trade Organization (WTO) during its accession in 2004, has allowed foreign banks to make their foray in Nepal to do only wholesale banking  from Jan. 1, 2010. Initially before the agreement with WTO (GATS), the Central Bank regulation allowed foreign shareholders to acquire maximum of 51% shares. Later the regulation changed which allowed foreign ownership of 75% and the recent regulation of 2010 allows 100% foreign ownership (i.e. allows a local entity to be a branch of a foreign company) in the banking industry. Entering of foreign firms is likely to generate benefits to financial sector as well as the economy as a whole (Chau HB, 2003). The effects can be seen mainly through an increase in efficiency and technological advancements as mentioned above. Over the past decade, the Nepalese banking industry has been doing well and has a number of new firms entering into the market. However, there is only one foreign bank and 6 joint-venture banks in the banking sector, though the government has liberalized the financial sector and allowed foreign banks to have 100% foreign ownership. With limited number of foreign banks in Nepal, it is still unclear whether entering of foreign banks, including joint venture, helps to improve overall performance of banking sector as well as to spillover some benefit to domestic banks in Nepal. Objectives To answer the key question above, there are two objectives of the research paper. To measure and analyze the performance of three types of banks namely domestic bank, joint-venture bank, and foreign bank and to explain the variation in performances of these banks. To identify whether the entry of foreign banks, including joint venture, banks would be beneficial for domestic banks which still dominate the financial market in Nepal. 1.3. Scope and limitations of the Study This study will only focus on three types of banks, i.e. domestic bank, joint-venture bank, and foreign bank, and it will offer an insight on the advantages of foreign banks in Nepal. Furthermore it will provide the reasons pertaining to variations in performance of the banks. The main limitation in this study is that there is only one foreign bank in Nepal till date, so the interpretation of the performance of the foreign bank in Nepal could be restricted to some degree. 1.4. Research Methodology This section develops research methodology to reach the objectives of the study. The banking sector in Nepal will be divided into three groups, namely foreign owned banks; joint-venture banks, and domestic banks. For this research, foreign-owned banks will be classified as those which have started a branch or subsidiary in the host country where the share of foreign bank ranges from 51% to 100% while joint venture banks will be classified as those in which foreign investors own the total equity of 50% or less and domestics banks are those which are purely owned by the Nepalese. The foreign owned banks are separated from joint-venture banks in this study because these two types of banks tend to have different operational management, resulting in their different performance. The research methodology is composed of both quantitative and qualitative analysis. First, the qualitative approach is applied to examine the structure and development of financial sector in Nepal during 2000-2010. The financial policy, especially competition-restriction regulation in Nepalese banking sector is also reviewed, mainly through official documents from central bank and international organization. Then the quantitative approach is developed to measure the performance and efficiency of banking sectors in Nepal. This is done by conducting various financial indicators of three types of banks in Nepal namely foreign bank, joint venture banks and domestic banks. Comparison of the indicators among these three types of banks over the past decades will provide the clear analysis of different performance between foreign-owned and domestic banks. The indicators can be grouped into four aspects, namely profitability; operational costs; staff productivity; risk prevention. Table 1 shows financial indicators that will be conducted according these four aspects. Table: 1    Indicators Rational Profitability Profitability à ¯Ã¢â‚¬Å¡Ã‚ ·Profit Margin (Net Profit/Total Income) Profit margin is very useful when comparing  companies in similar industries. A higher profit margin indicates a more profitable company that  has better control over  its costs compared to  its competitors. Profit margin is  displayed as a percentage; a 20% profit margin, for example, means the company has a net income of $0.20 for each dollar of sales. Profitability à ¯Ã¢â‚¬Å¡Ã‚ · Return on Asset (Net Profit/Total asset) ROA figure gives investors an idea  of how effectively the company is converting the money  it has  to invest into net income. The higher the ROA number, the better, because the company is earning more money on less investment. For example, if one company has a net income of $1 million  and total  assets of $5 million, its ROA is 20%; however, if another company earns the same amount but has total assets of $10 million,  it has  an ROA of 10%. Based on this example, the first company  is better at converting its investment into profit. Profitability à ¯Ã¢â‚¬Å¡Ã‚ ·Ãƒâ€šÃ‚  Return On Equity (Net Profit/Equity) The amount of net income  returned  as a percentage  of shareholders equity.  Return on equity  measures a corporations profitability  by revealing how much  profit a company generates  with the money shareholders have invested.  Ãƒâ€šÃ‚  Higher The ROE better the company. Profitability à ¯Ã¢â‚¬Å¡Ã‚ · Interest Rate Spread (Interest Earning Ratio-Interest Expense Ratio) The difference between the average yields a financial institution receives from loans and other interest-accruing activities and the average rate it pays on deposits and borrowings. The greater the spread, the more profitable the financial institution is likely to be; the lower the spread, the less profitable the institution is likely to be. Risk prevention Risk Prevention à ¯Ã¢â‚¬Å¡Ã‚ ·Capital to Risk Weighted Assets (CRAR) Total Capital/ (RWAs) This ratio is used to protect depositors and promote the stability and efficiency of financial systems around the world. à ¯Ã¢â‚¬Å¡Ã‚ ·Core CRAR = Tier I Capital / RWAs Tier one capital is that which can absorb losses without a bank being required to cease trading. This measures the capital standard of the bank à ¯Ã¢â‚¬Å¡Ã‚ ·Adjusted CRAR = (Total Capital Net NPAs)/(RWAs Net NPAs) This relates to the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s ability to sustain the losses due to risk exposures is the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital. The intermediation activity exposes the bank to a variety of risks. Staff productivity Staff Productivity à ¯Ã¢â‚¬Å¡Ã‚ ·Profit per employee (Net Profit/ No. of Employee) This helps to measure how productive the employees are in the bank by calculating profit generated by every employee. Higher the figure better for the company. à ¯Ã¢â‚¬Å¡Ã‚ ·Net Income per employee (Net Total Income/ Number of Employees) This also helps to measure income generated by every employee in the company Operational costs Overhead Expense à ¯Ã¢â‚¬Å¡Ã‚ · Overhead expense/total income The accurate accounting and allocation of over-head expenses are very important factors in calculating the true cost of the company Operating Expense Ratio à ¯Ã¢â‚¬Å¡Ã‚ · Operating Expense/ Net Income The Operating Expense Ratio is usually viewed as a measurement of management efficiency.   This is because management usually has greater control over operating expenses than they do over revenues. In addition to analyzing different performance between foreign-owned and domestic banks, this study further analyze whether entering of foreign banks helps to improve efficiency of domestic bank. This is done by (1) Structured interviews with managers of central bank and commercial banks. Specifically, the interview will provide detailed analysis on which factors do help to improve performance of domestic banking sector in Nepal; could foreign-owned banks influence performance of domestic banks; and which channels do foreign-owned banks influence domestic banks, and (2) by à ¢Ã¢â€š ¬Ã…“Granger causality testà ¢Ã¢â€š ¬? between domestic bank performance and foreign bank performance. This will be done on profitability, staff productivity and operational costs. 1.5. Organization of the study There will be five chapters in the study. Chapter 1 provides introduction, objective, scope and limitation, and methodology of the study. Chapter 2 reviews relevant theoretical and empirical literature on foreign bank penetration and domestic bank performance in both developed and developing countries to lay the groundwork for developing analytical framework and methodology in examining the impacts of foreign bank penetration on domestic bank performance in Nepal. Chapter 3 examines the structure and development of financial sector in Nepal as well as financial policy over the past decades. The results of banking performance are shown in this chapter. Chapter 4 discusses the impacts of foreign banks to domestic banks, both qualitative and quantitative. Chapter 5 provides conclusion and policy inferences. Chapter 2 Literature Review This section reviews relevant theoretical and empirical literature on foreign bank penetration and domestic bank performance in both developed and developing countries. This is done in order to lay the groundwork for developing analytical framework and methodology in examining the impacts of foreign bank penetration on domestic bank performance in Nepal. Penetration of foreign bank can come in different forms, such as branch offices, subsidiaries, joint ventures, or strategic partnerships. Branch offices, for instance, are an integral part of the parent company, that is, they have no capital of their own. Subsidiaries, however, are their own corporate entities, which are fully owned by the parent company. Similarly, joint ventures are separate corporate entities owned jointly by more than one parent company. Finally, foreign banks may establish a strategic partnership by buying a majority stake of an already existing domestic bank. Weller Scher (1999) The main difference between the various operational forms of foreign banks is their regulatory treatment. The regulatory treatment of the banks differs amongst domestic banks, joint-venture banks and foreign owned banks. Although there are different forms of foreign bank penetration, foreign owned banks are defined as those in which foreign investors own more than 50% of the total equity. Okuda and Rungsomboon, (2004). Decree on Foreign Banks, Phillip Fox 2006, distinguished foreign banks as Foreign Bank Branches (FBB), Foreign Invested Banks (FIB) and Joint Venture Banks (JVB). FBB is a dependent subsidiary of a foreign bank, for which the foreign bank has provided written guarantee that it will be responsible for all obligations and undertakings under FBB. A 100% FIB is established as a separate legal entity with capital being contributed from only foreign entities. Amongst the foreign investors, there must be a à ¢Ã¢â€š ¬Ã…“parent bankà ¢Ã¢â€š ¬? and it must hold more than 50% charter capital. A JVB is established as a separate legal entity, with capital being contributed from one or more foreign banks and domestic banks. Capital is not divided into shares. In JVBs, the capital contribution rate by the foreign bank(s) is capped at 50% of the capital of the bank. The regulations and supervision of financial sector in a host country are crucial in affecting the penetration of foreign banks. Over the past decade, most of the banks throughout the world have started standardizing their policies relating to financial sector according to Basel committee (Basel II Basel III)[7] Although Basel system has been introduced and regulations and supervision of banking sectors began to be standardized, regulations relating to competition within the banking sector, which influence the penetration of foreign bank and market structure of banking sector, vary significantly across countries and regions. According to Barth, Caprio and Levin (2001), there are three key aspects of the regulations relating to competition within the banking sector, namely 1) Limitations on Foreign Ownership of Domestic Banks determine (whether there are any limitations placed on the ownership of domestic banks by foreign banks); (2) Limitations on Foreign Bank Entry determine (whether there are any limitations placed on the ability of foreign banks to enter the domestic banking industry) and (3) Entry into Banking Requirement determine (whether there are specific legal submissions required to obtain a license to operate as a bank). The restrictions on overall bank activities and ownership vary from country to country. The research on Regulation and Supervision of Banks around the World by Barth, Caprio and Levine (2001) mentions that there are two measures of the size of a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking industry. First measure is total bank assets as a percentage of GDP and the other is the number of banks per 100.000 people. . Both these measures show substantial variation across countries. Countries like Germany, Switzerland, Netherlands, and United Kingdom have very high total bank assets as a percentage of GDP whereas United States and Asian countries are much lower. However the number of banks per 100,000 people is not much different in the countries mentioned above. The following Table shows the differences in restriction on banking system in some countries.[8] Countries Percent of total bank assets government owned Percent of total bank assets foreign owned Overall bank activities and ownership restrictiveness Professional Supervisor per bank Bangladesh 70 6 3.0 8 India 80 0 2.5 5.5 Nepal 20 35 2.0 4 Sri Lanka 55    1.8                   Cambodia 16 71 3.5    Indonesia 44 7 3.5 3 Malaysia 0 18 2.5 4.7 Philippines 12 13 1.8 7 Thailand 31 7 2.3 10 Singapore 0 50 2.0 1                New Zealand 0 99 1.0 0.6 Australia 0 17 2.0 2                United States 0    1.3 0.7                Germany 42 4 1.3 1 United Kingdom 0    1.3 0.7 Belgium       2.3 0.7 Switzerland 15 9 1.3    The table clearly shows that the countries in ASEAN region have higher restrictions on banking activities and ownership in comparison to countries like New Zealand and United States. The regulations are different in each country and do not match even if the countries are in the same region. But Professional supervision per bank is lower in developed countries like United States, New Zealand, United Kingdom whereas developing counties have higher no. of supervision per bank. According to the research the highest restrictions on overall bank activities and ownership are imposed by countries like Bhutan, Cambodia, China, Indonesia, Vietnam and lowest restrictions by New Zealand then Germany, Austria and United Kingdom. In countries like New Zealand and United states the government ownership of banks is zero percent whereas India, Bangladesh has very high percent of government-owned banks. Although the regulations on banking competition vary, over the last decades, restrictions on foreign bank penetration have been relaxed as part of financial reform and foreign bank penetration increased substantially in many countries. This could be because the host country expects the positive impacts of increased foreign bank penetration in the host countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking system. Trade agreements have also played a major role in liberalization of market entry for foreign banks as financial services are required for international trade, production and investments. Governments usually support flow of foreign investment and this has been evident especially after various financial crises. Many countries in Southeast Asia started liberalizing foreign investment after the Asian financial crisis. The Asian crisis appeared to have catalyzed the liberalization of FDI restrictions in the banking sector across several ASEAN countries. Chau H.B (2003) A number of empirical studies analyze the impacts of foreign bank entry on domestic financial sector in a host country. The impacts can be grouped into three aspects. Firstly, foreign banks promote efficiency (competition and new technology) in domestic financial sector. A larger foreign bank presence can improve the competitiveness of the banking sector. Greater competition is advantageous for many reasons: to enhance the efficiency of financial services; to stimulate innovation; and to contribute to stability. It can also widen access of qualified borrowers to financing, which may increase aggregate lending and so enhance growth. A competitive and well-organized banking system can also improve the effectiveness of monetary policy transmission by tightening the link between policy rates and deposit/lending rates. (BIS paper No. 23) Foreign banks also help in availability of funds and acquisition of consumer-marketing skills. Chau (2003) In addition, foreign bank entry introduces new technology; financial services and advanced management skills, which existing domestic banks lack. The new technology and skills introduced by foreign banks include new financial products, advanced IT technology, and sophisticated bank management techniques. These are expected to contribute to lower operational expenses, amplified profitability, and better bank risk management. Forced by market competition, domestic banks may emulate the new financial products and management skills. Okuda Rungsomboon (2004). The presence of foreign bank also improves the corporate governance structure of the domestic banks. This includes breaking down the family-controlled structure and improving the decision making process. Chau H.B (2003) Unite and Sullivan (2001) has found that increase in foreign bank entry narrows the interest rate spreads and also reduces operating expenses. Foreign banks induces domestic banks to be more efficient, the increased competition forces domestic banks to take in less creditworthy customers and foreign participation induces domestic banks to spend more on improving their operations. However, Okuda Rungsomboon (2004) found that the entry of foreign banks is expected to negatively affect the operations of domestic banks but overall performance is likely to progress in the long run. Secondly, the entry of foreign banks is associated with reallocation of loans. Findings suggest that foreign banks improves credit access for many credit-worthy firms but some firms with positive net present value without opaque information will have difficulty obtaining loans. More developed countries, such as the U.S., Japan, and those in the European community, argue that Less Developed countries should allow foreign banks to enter into their economies. By increasing competition, foreign bank entry may boost the supply of credit and improve efficiency. Gormley (2006) Foreign banks are comparatively less likely to lend to à ¢Ã¢â€š ¬Ã…“soft informationà ¢Ã¢â€š ¬? firms, and more likely to lend to à ¢Ã¢â€š ¬Ã…“hard informationà ¢Ã¢â€š ¬? firms. à ¢Ã¢â€š ¬Ã…“Soft informationà ¢Ã¢â€š ¬? refers to information that cannot be easily publicly verified by a third party. à ¢Ã¢â€š ¬Ã…“Hard informationà ¢Ã¢â€š ¬? on the other hand refers to credible and publicly verifiable information, such as a foreign firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s authentically audited balance sheets, or government guarantees. Mian(2003.) The loan portfolio of foreign banks consists of only credible clients which mean that the chances of default are very less. The domestic banks will be compelled to give loans to non-credible clients because the credible clients will be mostly handled by foreign banks. This will have greater chances of loan defaults for domestic banks. Thirdly, foreign banks are geographically spread relative to domestic banks; therefore they are less affected by adverse shocks in the domestic country. Both foreign and private domestic banks have similar low probabilities of being assisted by the government in times of difficulty but foreign banks are considerably more likely of being bailed out by their parent bank. For example, if the local subsidiary in a developing country of a foreign bank runs into trouble, it may get an injection of new capital from its parent bank to bail it out. This access to liquidity directs to a lesser deposit cost for foreign banks. Furthermore, foreign banks have access to advanced technology, outside resources and expertise which facilitates them in providing better service than the domestic banks. However, there might be some drawbacks that make the foreign banks perform worse than domestic banks in the host country. Firstly, a large foreign banking existence could mean that information available to host country supervisors can be reduced and the decision-making and risk management shifts to the parent bank. The delisting of the equity of local partner on the local exchange removes an important source of market intelligence for the foreign bank. In addition, if the integrated firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ equities are delisted in the local market, host country controllers can also lose access to key foreign bank decision-makers. Secondly, a country might be more exposed to shocks due to foreign banks presence. External events which affect the parent bank will affect the branches or subsidiaries. The factors that determine exposure to such external shocks, whether it is greater with onshore foreign banking as compared to traditional cross-border bank lending, and the propositions for regulatory and supervisory policy also demand further investigation. Lastly Accounting Standards could also be a problem for foreign banks unlike the domestic banks which have clear set of accounting standards set within its organization. There is a need for transparent and reliable accounting and financial reporting but for foreign banks; usually parent banks and their foreign subsidiaries often have different accounting standards, which can lead to discrepant financial balances, even when they are based on the same financial information. This might lead to complexity in comparison between international financial statements which could raise doubt in the reliability of banks financial statements. Differences may occur in different tax treatment, deferred taxes, valuation and accounting of repos, amortization of goodwill, treatment of past due loans and from provision and inflationary accounting adjustments. Moreno and Villar (2005)

Mt St Helens 1980 Eruption

At 8:32 a.m. on May 18, 1980, the volcano located in southern Washington called Mt. St. Helens erupted. Despite the many warning signs, many were taken by surprise by the blast. The Mt. St. Helens eruption was the worst volcanic disaster in U.S. history, causing the deaths of 57 people and approximately 7,000 large animals. Â   A Long History of Eruptions Mt. St. Helens is a composite volcano within the Cascade Range in what is now southern Washington, approximately 50 miles northwest of Portland, Oregon. Though Mt. St. Helens is approximately 40,000-years old, it is considered a relatively young, active volcano. Mt. St. Helens historically has had four extended periods of volcanic activity (each lasting hundreds of years), interspersed with dormant periods (often lasting thousands of years). The volcano is currently in one of its active periods. Native Americans living in the area have long known that this was not an ordinary mountain, but one that had fiery potential. Even the name, Louwala-Clough, a Native American name for the volcano, means smoking mountain. Mt. St. Helens Discovered by Europeans The volcano was first discovered by Europeans when British Commander George Vancouver of the H.M.S.Discovery spotted Mt. St. Helens from the deck of his ship while he was exploring the northern Pacific Coast from 1792 to 1794. Commander Vancouver named the mountain after his fellow countryman, Alleyne Fitzherbert, the Baron St. Helens, who was serving as the British ambassador to Spain. Piecing together eyewitness descriptions and geologic evidence, it is believed that Mt. St. Helens erupted somewhere between 1600 and 1700, again in 1800, and then quite frequently during the 26-year span of 1831 to 1857. After 1857, the volcano grew quiet. Most people who viewed the 9,677-foot tall mountain during the 20th century, saw a picturesque backdrop rather than a potentially deadly volcano. Thus, not fearing an eruption, many people built houses around the base of the volcano. Warning Signs On March 20, 1980, a 4.1 magnitude earthquake struck underneath Mt. St. Helens. This was the first warning sign that the volcano had reawakened. Scientists flocked to the area. On March 27, a small explosion blew a 250-foot hole in the mountain and released a plume of ash. This caused fears of injuries from rockslides so the entire area was evacuated. Similar eruptions to the one on March 27 continued for the next month. Though some pressure was being released, large amounts were still building. In April, a large bulge was noticed on the north face of the volcano. The bulge grew quickly, pushing outward about five feet a day. Though the bulge had reached a mile in length by the end of April, the plentiful plumes of smoke and seismic activity had begun to dissipate. As April drew to a close, officials were finding it increasingly difficult to maintain the evacuation orders and road closures due to pressures from homeowners and the media as well as from stretched budget issues. Mt. St. Helens Erupts At 8:32 a.m. on May 18, 1980, a 5.1 magnitude earthquake struck under Mt. St. Helens. Within ten seconds, the bulge and surrounding area fell away in a gigantic, rock avalanche. The avalanche created a gap in the mountain, allowing the release of pent-up pressure that erupted laterally in a huge blast of pumice and ash. The noise from the blast was heard as far away as Montana and California; however, those close to Mt. St. Helens reported hearing nothing. The avalanche, huge to begin with, quickly grew in size as it crashed down the mountain, traveling around 70 to 150 miles per hour and destroying everything in its path. The blast of pumice and ash traveled northward at 300 miles per hour and was a raging hot 660Â ° F (350Â ° C). The blast killed everything in a 200-square mile area. Within ten minutes, the plume of ash had reached 10 miles high. The eruption lasted nine hours. Death and Damage For the scientists and others who were caught in the area, there was no way to outrun either the avalanche or the blast. Fifty-seven people were killed. It is estimated that about 7,000 large animals such as deer, elk, and bears were killed and thousands, if not hundreds of thousands, of small animals died from the volcanic eruption. Mt. St. Helens had been surrounded by a lush forest of coniferous trees and numerous clear lakes before the blast. The eruption felled entire forests, leaving only burned tree trunks all flattened in the same direction. The amount of timber destroyed was enough to build about 300,000 two-bedroom homes. A river of mud traveled down the mountain, caused by melted snow and released groundwater, destroying approximately 200 houses, clogging up shipping channels in the Columbia River, and contaminating the beautiful lakes and creeks in the area. Mt. St. Helens is now only 8,363-feet tall, 1,314-feet shorter than it was before the explosion. Though this explosion was devastating, it will certainly not be the last eruption from this very active volcano.

Career Development The Career Opportunity - 955 Words

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