...Exclusive Summary Pan Asia Bank is one of the leading commercial bank in Sri Lanka. But after two years of it’s started, in year 1997 bank face serious financial and management issues. Due to this, bank went to collapse and “Valuable One” PLC acquires the bank and they did a massive change in order to overcome financial and management difficulties. In this Assignment I discuss how the change management happened in PABC and how it effects to organization’s design, culture, individuals and team working and how we can explain the change by theories and how to improve it towards positive. List of Abbreviations * PABC -Pan Asia Bank Cooperation * PR - Personal Relations * CFO - Chief Financial Officer * CIO -Chief information officer * CMO -Chief marketing officer * CRO -Chief Risk Officer * NTB - Nations Trust Bank * PLC -Public Limited Company Table of Contents Acknowledgement ii Exclusive Summary ii List of Abbreviations iii 1.0 Introduction 3 1.1 Company Profile 3 1.2 Vision and Mission 4 1.3 Organizational Structure 4 2.0 The change process 5 2.1 Why PABC required a change management? 5 2.2 Change Management 5 3.0 Management practices with regards to organizational change process 6 3.1 Re-Segmentation 6 3.2 New departments 7 3.3 Risk Management 7 4.0 Management practices with regards to cultural change process 8 4.1 The sales culture 8 4.2 “Whistling Blower” Policy 8 5.0 Management practices with regards to organizational design...
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...goal of the economy. The successful running of banking business depends upon effective banking operation. As a new commercial bank BANK ASIA has a huge responsibility to ensure efficient and effective banking operation all over the Bangladesh in a sound manner with other Banks as a competitor. Banking sector is indispensable part in a modern age and modern society. It always plays a vital role to the economic development of a country. In modern age of science and technology the banking sector all over the world has been undergoing a lot of changes due to deregulation, technological innovation and globalization. Basically bank take deposits from the customers against some interest/profit or loss sharing/payments and lend the money to the borrowers with a different interest/markup rate and time period. To ensure safety of the depositors fund there are various types of credit facility. Also bank must hold adequate fund to meet the daily needs of the clients. During the last six years, many new banks have emerged to satisfy the needs of the customers. They are continuously trying to attract people towards them by offering new types of products and services to face competition and fresh challenges thrown by their rival. Efforts are made to satisfy customers’ needs by providing superior value than their competitors. BANK ASIA is doing its business with a view to serve the best to the customers and clients with its 53 (fifty three)...
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...years back Bangladesh Bank undertook a project to review the global best practices in the banking sector and examines in the possibility of introducing these in the banking industry of Bangladesh. Four ‘Focus Groups’ were formed with participation from Nationalized Commercial Banks, Private Commercial Banks & Foreign Banks with representatives from the Bangladesh Bank as team coordinators to look into the practices of the best performing banks both at home and abroad. These focus groups identified and selected five core risk areas and produced a document that would be a basic risk management model for each of the five 'core' risk areas of banking. The five core risk areas are as follows- a) Credit Risks; b) Asset & Liability / Balance Sheet Risks; c) Foreign Exchange Risks; d) Internal Control & Compliance Risks; and e) Money Laundering Risks. Bangladesh Bank in one of it’s circular (BRPD Circular no.17) advised the commercial banks of Bangladesh to put in place an effective credit approval and monitoring system by December, 2003 based on the guidelines sent to them. In my study, I would try to put forward my findings about the “Credit Management Policy of Bangladesh Bank, and its implementation”. To illustrate my point, I am giving the example of Bank Asia Limited. 2. Objectives of the study. Broad objective: ❖ The broad objective is to know the Credit Management Policy of Bangladesh Bank. ❖ To analyze...
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...Loss of General Account interest on RAD balance: The balance of Foreign Currency account is showed in the Trial Balance of AD Branch in taka form which is deposit for them and earns general account interest on the daily balance on foreign currency. But the Remittance Awaiting Disposal (RAD) Account of Saiham Cotton Mills Ltd. & Faisal Spinning Mills Ltd. are being maintained with Central Trade Services Unit (CTSU) and neither the branch nor the CTSU is getting general account interest on the daily balance of RAD account of Saiham Cotton Mills Ltd. & Faisal Spinning Mills Ltd. In light of the above table, it is certain that we have loosed BDT 1.80 million general account interest from 01.01.2014 to 31.05.2014 which will be BDT 4.31 million in 2014 for not showing FC account balance in Trial Balance of our branch. Moreover, RAD account balance is not adding with total deposit of the branch and it is not contributing the deposit mix of the branch since it is a low cost deposit. No sharing of interest income on UPAS payment & USD Purchase: The L/C of Saiham Cotton Mills Ltd. and Faisal Spinning Mills Ltd. is opened either UPAS arrangement or EDF arrangement as per Corporate Office’s approval ref: BA/CO/CRM(CACO)/AHH/eS/2013/0813 dated 20.10.2013. In case of UPAS, we do not earn any interest income at the time of payment of L/C by the client to OBU though our proposal was to take share 2% rate of interest (along with DHANMONDI BRANCH 50% overdue interest earnings for overdue...
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...RESEARCH PAPER 99/14 11 FEBRUARY 1999 The Asian Economic Crisis This paper considers the economic crisis that began in the financial markets of South East Asia in 1997 and the consequences for the economies of the region and the rest of the world. The paper provides a chronology of and explores the factors that led to the crisis. An overview is given of the policy measures that the international financial institutions (IFIs), such as the IMF, have taken to deal with the crisis. Some of the arguments and policy proposals made to try to avoid future crises are also covered. Eshan Karunatilleka ECONOMIC POLICY AND STATISTICS SECTION HOUSE OF COMMONS LIBRARY Recent Library Research Papers include: 98/119 98/120 99/1 Unemployment by Constituency - November 1998 Defence Statistics 1998 The Local Government Bill: Best Value and Council Tax Capping Bill No 5 of 1998-99 16.12.98 22.12.98 08.01.99 99/2 99/3 99/4 Unemployment by Constituency - December 1998 Tax Credits Bill Bill 9 of 1998-9 The Sexual Offences (Amendment) Bill: 'Age of consent' and abuse of a position of trust [Bill 10 of 1998-99] 13.01.99 18.01.99 21.01.99 99/5 99/6 99/7 The House of Lords Bill: 'Stage One' Issues Bill 34 of 1998-99 The House of Lords Bill: Options for 'Stage Two' Bill 34 of 1998-99 The House of Lords Bill: Lords reform and wider constitutional reform Bill 34 of 1998-99 28.01.99 28.01.99 28.01.99 99/8 99/9 99/10 99/11 99/12 Economic Indicators Local Government...
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...The terms ‘imperialism’, defines the dynamics of a long-term process of social change and transformation, together with associated class struggles and also to establish hegemony over the world system.1 The old imperialism rise in the late 19th century as direct consequences of industrial capitalism and engaged Europe, the US and Japan in a competitive struggle for markets and territorial control. 2 Actually, structures of exploitation mean exploit a country by using certain level of strategies. In old imperialism, firstly they enter a country by colonized them, secondly they produced and exported manufactured goods in exchange for raw materials, minerals and other industrial inputs or consumer commodities their colonies. Imperialist dominated all the resources in colonial countries where this is way allowing them to accumulate capital3 via ‘unequal exchange 4and unequal development. According to James Petras, there are no differences in new imperialism and old imperialism. But there are some differences, which are in new imperialism, there more focus on development as a form of imperialism. There is still existing of structure exploitation in new imperialism where developing countries are dominated by multinational corporations. In addition, most developing countries where introduced and practice the neo-liberalism system which is also a part of structure exploitation. Neo-liberalism benefited and makes richer the capitalist as much as possible while the developing countries remain...
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...focus on development as a form of imperialism. There is still existing of structure exploitation in new imperialism where developing countries are dominated by multinational corporations. In addition, most developing countries where introduced and practice the neo-liberalism system which is also a part of structure exploitation. Neo-liberalism benefited and makes richer the capitalist as much as possible while the developing countries remain underdeveloped. Industrialization is a process of transition from agriculture sector to industry sector where there are consists of two parties, capitalist and workers. The events that led to the adoption of industrialization as a strategy to promote economic growth for post-colonial in East Asia in late 1960’s and Latin America after the Second World War is...
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...sources, country classifications and aggregation methodology The statistical annex contains a set of data that the World Economic Situation and Prospects (WESP) employs to delineate trends in various dimensions of the world economy. Data sources The annex was prepared by the Development Policy and Analysis Division (DPAD) of the Department of Economic and Social Affairs of the United Nations Secretariat (UN/DESA). It is based on information obtained from the Statistics Division and the Population Division of UN/DESA, as well as from the five United Nations regional commissions, the United Nations Conference on Trade and Development (UNCTAD), the United Nations World Tourism Organization (UNWTO), the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD), and national and private sources. Estimates for the most recent years were made by DPAD in consultation with the regional commissions, UNCTAD, UNWTO and participants in Project LINK, an international collaborative research group for econometric modelling coordinated jointly by DPAD and the University of Toronto. Forecasts for 2014 and 2015 are primarily based on the World Economic Forecasting Model of DPAD, with support from Project LINK. Data presented in WESP may differ from those published by other organizations for a series of reasons, including differences in timing, sample composition and aggregation methods. Historical data may differ from those in previous editions...
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...possible market for Estee Lauder products. II. CENTRAL PROBLEM • High cost of production • Difficulties in distribution channels /Changes in distribution policy and retail environment III. SWOT A. STRENGTH • Markets about 9000 of quality products. • Global licenses for fragrances and cosmetics. • Each of the company brands has a single global image • It engages celebrities to advertize its products B. WEAKNESSES • Difficulties for the customer to order online for those who doesn’t have computer and bank accounts. • High pricing • Geographically not targeting Asian countries C. OPPORTUNITIES • Popularity of online shopping is hit now a days. • Seeking of sale items and discounts of the consumers. • High population of possible target market in Asia. D. THREATS • Competitive pricing of other competitors in the Philippines/Asia. • Global economy slowdown. • Customer loyalty to other brands. IV. A....
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...World Economic and Financial Sur veys Regional Economic Outlook Middle East and Central Asia 09 I N T E R N A T I O N A L M O N E T A R Y M AY F U N D W o r l d E c o n o m i c a n d F in a n c i a l S u r v e y s Regional Economic Outlook Middle East and Central Asia •••••••••••••••••••••• 09 I N T E R N A T I O N A L M O N E T A R Y F MAY U N D ©2009 International Monetary Fund Cataloging-in-Publication Data Regional economic outlook : Middle East and Central Asia. – [Washington, D.C.] : International Monetary Fund, 2009. p. ; cm. – (World economic and financial surveys, 0258-7440) ISBN 978-1-58906-842-1 “MAY09.” Includes bibliographical references. 1. Economic forecasting – Middle East. 2. Economic forecasting – Asia, Central. 3. Middle East – Economic conditions. 4. Middle East – Economic conditions – Statistics. 5. Asia, Central – Economic conditions. 6. Asia, Central – Economic conditions – Statistics. I. International Monetary Fund. II. Series: World economic and financial surveys. HC415.15.R445 2009 Please send orders to: International Monetary Fund, Publication Services 700 19th St. N.W., Washington, D.C. 20431, U.S.A. Tel.: (202) 623-7430 Fax: (202) 623-7201 E-mail: publications@imf.org Internet: www.imfbookstore.org The views expressed in this publication are those of the contributors...
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...ORGANISATION ACT/EMP PUBLICATIONS INDUSTRIAL RELATIONS AND GLOBALIZATION: CHALLENGES FOR EMPLOYERS AND THEIR ORGANIZATIONS Prepared by David Macdonald Senior Industrial Relations Specialist ILO/EASMAT Bangkok Paper presented at the ILO Workshop on Employers' Organizations in Asia-Pacific in the Twenty-First Century Turin, Italy, 5-13 May 1997. [Top] [Next] Table of Contents 1. Executive Summary 2. Introduction 3. Industrial Relations (IR) in the Global Context (a) IR - a definition (b) IR and HRM (c) Liberalization, globalization and IR (i) Overview (ii) The relevance of globalization to industrial relations - a summary (iii) The role of multinational corporations (MNC's) (iv) Information technology and IR (v) The impact of other trends (d) The changing nature of IR - a re-definition? 4. IR in Asia and the Pacific (a) The historical context (i) General (ii) Economic development and industrialization (iii) Industrialization and IR policies (iv) IR arrangements - regional divergence (v) Other considerations (b) The current environment (i) Overview 2 (ii) Current responses to liberalization and globalization (iii) Important regional trends 5. Responding to Current and Prospective IR challenges in Asia and the Pacific developing an agenda for employers and their organizations to facilitate transition to the Twenty-first century (a) Overview (b) General issues (i) Achieving competitiveness (ii) Effective IR is a key to improved enterprise performance (iii) The importance of diffusion...
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...Countries Test Week 5 Midterm Exam Part 2 Status Completed Attempt Score 100 out of 100 points Instructions This exam consists of 20 multiple choice questions and covers the material in Units 1 through 4 of the Webtext. There are five questions from each unit. • Question 1 5 out of 5 points According to World Bank standards, a country can be considered "developing" if which of the following is true? Answer Selected Answer: The country has a low- or middle-income economy. Correct Answer: The country has a low- or middle-income economy. • Question 2 5 out of 5 points As of 2001, what region of the world contained the highest number of the world’s extremely and moderately poor citizens? Answer Selected Answer: South Asia Correct Answer: South Asia • Question 3 5 out of 5 points According to the various graphs comparing poverty in 1981 to poverty in 2001, which of the following is true? Answer Selected Answer: The number of people in East Asia living in extreme poverty fell, while the number living in moderate poverty grew. Correct Answer: The number of people in East Asia living in extreme poverty fell, while the number living in moderate poverty grew. • Question 4 5 out of 5 points Why there is so little formal work in Peña Blanca? Answer Selected Answer: It is a poor, rural town whose economy and infrastructure are not strong enough to support regular jobs. Correct...
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...Focus on: India International Business Report 2010 – Country focus series The recovery Impact on businesses With the worst of the global recession behind it and Government action which helped to put a floor under the economy, growth in India is slowly accelerating. Downside risks loom as prices rise sharply owing to the fiscal stimulus and supply constrains, and the Reserve Bank has started raising interest rates as inflation remains stubbornly high. The key indicators1 are highlighted below: • the economy expanded by six per cent in the three months to December, down from 7.9 per cent in the previous quarter • industrial production, which expanded by just 2.6 per cent in 2008-2009, posted a 16.7 percentage point increase in January • in the three months to December, exports rose by 2.9 per cent (six per cent year-on-year) whilst imports climbed by 10.8 per cent (1.2 per cent year-on-year) • the rising price of food, fuel and manufactured goods saw the wholesale price index-based inflation soar to a 16-month high of 9.89 per cent in February. The Grant Thornton International Business Report (IBR) 2010 surveyed the views of over 7,400 privately held businesses (PHBs) in 36 economies around the world. This report focuses on India, the experiences and attitudes of its privately held businesses and how they have been affected by the economic crisis along with how they are dealing with the recovery, as illustrated in figure 1. The IBR survey tells us that businesses in India...
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...(maybe because of 1997-1998 Asian financial crisis) In the coming decade, Asian economies are likely to continue their ascendancy, albeit at a slower pace, which should eventually decouple Asia from the advanced economies. With increasing domestic cost pressures, Asia may also become a new source of global inflation. Asia’s exports of capital to advanced economies may shrink as the region rebalances and outflows should focus more on portfolio investment and foreign direct investment (FDI). In the coming decade, a potential crisis in a major Asian economy such as China could trigger the next global recession. SUMMARY: History: more than 1000 years before the industrial revolution, the combined share of China and India in the world economy was routinely greater than 50% (but whether they will assert influences on the world economy depends on assumption of sustainability) 1993: the East Asian miracle, HPAEs (world bank 1993), no China India 1997-1998 Asian financial crisis (triggered by the withdrawal of foreign capital from the region, however, excessive borrowing, overheating economies and declining investment returns in previous years had already laid the foundations) 1999, 2000: most Asian countries recovered 2008 GFC may accelerate the shift of global economic gravity toward Asia and probably reinforced the prediction of a new Asian century: during GFC, China &India stay 9% growth rate, and HK…. With negative rate, but...
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...economists and the rest of the world did not see the breaches in the economy and realize the affect those considerations would have in the exacerbation of an entire region. The purpose of this essay is to explain what the Asian Economic Crisis was, the causes, consequences, and how the world went about resolving the issue to bring this region to where it is today. The 1990s was a decade of enormous growth in Southeast Asia sustained by its exporting (Noble, 1). It was commonly known as the Asian economic miracle. Macroeconomic balances were relatively steady and inflation was under control in these Asian countries, like Thailand, Indonesia and Singapore. Because of the major progress and developments in these countries, it became an attractive location for foreign investment. Technology had reached a new brink, where people could invest internationally without having to leave the country and establish a huge investment abroad. Trading through the internet was easy, efficient and convenient. Capital Inflow into these countries was inundating the banks and several sectors of these countries in a way they never saw before. For the investors it was beneficial because their rate of return was nearly ten to twenty times higher than what they would get by investing in the domestic market (Noble, 8). For the Southeast Asian countries, it was wonderful because it gave them the capital to develop their countries and have the opportunity to...
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