...History of the Bank: The importance of financial intermediaries in the development of the overall economy of country cannot be described in short. From the inception of the civilization the banking sector dominate the economic development of a country by mobilizing the saving from the general people and channeling those saving for investment and thus economic development and growth The importance of commercial banks after the ravage of the liberation war to develop a better economy was severally needed and it is needed now and will be required in future also. In time to time Government of Bangladesh agreed to permit the private commercial banking in the country. To fulfill the demand as well as to improve the commercial banking service in our country, The Prime Bank Limited is scheduled bank that was incorporated under the Companies Act 1994, started its operation on April 17, 1995 with a target to play the vital role on the socio-economic development of the country. It availed its registration as a banking company under the Banking Company Act 1993 from the Bangladesh Bank dated February 12, 1995. The started to make profit from the inception year. It was made possible for its management and the leadership of the first Managing Director Mr. Lutfur Rahman Sharker, Ex -Governor, Bangladesh Bank. Within a short time the bank has been successful in positioning itself as progressive and dynamic financial institution in the country. The is now widely acclaimed by the business...
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...THE EXECUTIVE DIVISION The Board of Trustees As the governing body, the Board of Trustees formulates the institutional objectives, circular thrusts and major policies on the general operation of the University in line with its philosophy, mission, vision and objectives. The Board regularly meets once a semester to deliberate on issue pertinent to these concerns but my convene, if there are matters to be acted upon which cannot be held pending until the next scheduled meeting. Urgent matters of this nature are handled by an Executive Committee of the Board composed of three senior members for tentative action until the next Board meeting. The University Executive Body The executive body of the University is headed by the President, assisted by an Executive Vice President. Under the Executive Vice President is the Senior Vice President and Treasurer. The University President The President is the highest in the University. The functions of the position are as follows: ➢ recommend for the approval of the Board of Trustees institutional policies, plans, and programs consistent with the University's mission and thrusts; ➢ ensures the implementation of the University policies, plans and programs approved by the Board of Trustees; ➢ confers, with the authority from the Board of Trustees, academic degrees, diplomas or certificates to qualified candidates for graduation upon the recommendation of the Vice President for Academic Affairs; ...
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...History of the Bank The importance of financial intermediaries in the development of the overall economy of country cannot be described in short. From the inception of the civilization the banking sector dominate the economic development of a country by mobilizing the saving from the general people and channelling those saving for investment and thus economic development and growth. The importance of commercial banks after the ravage of the liberation war to develop a better economy was severally needed and it is needed now and will be required in future also. In time to time Government of Bangladesh agreed to permit the private commercial banking in the country. To fulfil the demand as well as to improve the commercial banking service in our country, The Prime Bank Limited is scheduled bank that was incorporated under the Companies Act 1994, started its operation on April 17, 1995 with a target to play the vital role on the socio-economic development of the country. It availed its registration as a banking company under the Banking Company Act 1993 from the Bangladesh Bank dated February 12, 1995. The bank started to make profit from the inception year. It was made possible for its management and the leadership of the first Managing Director Mr. Lutfur Rahman Sharker, Ex -Governor, Bangladesh Bank. Within a short time the bank has been successful in positioning itself as progressive and dynamic financial institution in the country. The is now widely acclaimed by the business...
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...structure of the company allows us to better understand the functions of the management and control and coordination in place to achieve the objectives of the strategic planning and implementation in those actions. We will also explore how this structure affects the relationship between the various departments. I will discuss three objectives in this paper. I will first describe the organizational structure of Wal-Mart and make a comparison with other organizational structures used today to clarify the differences and similarities. Second, I will evaluate how organizational functions influence and determine its structure. Third, I will explain how the organizational structure helps to determine the best structure. Wal-Mart operates in three divisions, which are United States Wal-Mart, Sam's Club and Wal-Mart International. Its overall business spans several continents with many subsidiaries in several countries geographically. These subsidiaries operate under various trade names, they include ASDA, Sam's Club, Seiyu, Massmart, Wal-Mart U.S., Wal-Mart Canada Wal-Mart in China Wal-Mart Brazil, Wal-Mart Argentina, Mexico Wal-Mart and Wal-Mart Chile with over 8,000 locations currently in operation. These divisions operate on their territory, to provide products, services and customer support of the demands of today's customers, which is also a direct result of its growth, complexity and diversity more effectively. Each division and subsidiaries, we can establish that Wal-Mart is a...
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...projects poured in and people worked on many projects at once 5) The environment started becoming chaotic and the company was spending cash quickly without monitoring its expenses. 6) Employees were only “fire-fighting” with the existing operations and there was no development or underlying planning structure. 7) Customer complaints started increasing and Appex was unable to handle the increasing demand and volume of customer requests. 8) Company started missing the installation dates and fell behind schedules, there were failures in product development. 9) Information flow started becoming difficult, there were clashes in the product development process and coordination and integration started falling apart. 10) There was no financial planning, the operations became unproductive and looseness of projects didn’t work. 2. Evaluate the importance of each of the structural changes Shikhar Ghosh implemented. How important were they? What problems did each ne w...
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...structure Wal-Mart is composed of. As we take a closer look at this company’s structure it enables us to understand better the management functions and elements of control and coordination in place to achieve strategic planning and goals and to implement those into specific actions. We will also explore how this structure affects the relationships among the various departments. I will discuss three objectives throughout this paper. First, I will describe Wal-Mart’s organizational structure and make a comparison to that of other organizational structures used today so as to clarify differences and similarities. Second, I will evaluate how the organizational functions influence and determine its structure. Third, I will explain how organizational design helps determine the best structure. Organizational Structure of Wal-Mart Wal-Mart operates under three divisions, which are Wal-Mart US, Sam’s Club, and Wal-Mart International. Its global operations expands over several continents with numerous subsidiaries geographically located in several countries. These subsidiaries operate under different business names to include ASDA, Sam’s Club, Seiyu, Massmart, Wal-Mart US, Wal-Mart Canada, Wal-Mart China, Wal-Mart Brazil, Wal-Mart Argentina, Wal-Mart Mexico, and Wal-Mart Chile with more than 8,000 locations currently in operation. These divisions operate within their geographical boundaries so as to more efficiently offer the products, services, and customer support that today’s...
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...controllers. In 1985 and for many years previously, the divisional controllers reported to the general managers of their divisions. Although Mr. Bevins knew this to be the general practice in many other divisionally organized companies, he was not entirely satisfied with it. His interest in making a change was stimulated by a description of organizational responsibilities given him by the controller of the Martex Corporation. The Rendell Company had seven operating divisions: the smallest had $50 million in annual sales and the largest over $500 million. Each division was responsible for both the manufacturing and the marketing of a distinct product line. Some parts and components were transferred between divisions, but the volume of such interdivisional business was not large. The company had been in business and profitable for over 50 years. In the late 1970s, although it continued to make profits, its rate of growth slowed considerably. James Hodgkin, later the president, was hired in 1980 by the directors because of their concern about this situation. His first position was controller. He became executive vice president in 1983 and president in 1984. Mr. Bevins joined the company as assistant controller in 1981, when he was 33 years old. He became controller in 1983. In 1980, the corporate control organization was primarily responsible for (1) financial accounting, (2) internal auditing, and (3) analysis of capital budgeting requests. A budgetary control system was in existence...
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...implemented to enforce laws of legislative functions, executive functions, and judicial functions. The regulatory agencies plays a central role in the operation of the financial sector. There are a numerous variances of regulatory agencies, which all serve a different purpose in business law enforcement. Some of which include the Environmental Protection Agency, Occupational Health and Safety Administration, and the Securities and Exchange Commission. For the purpose of this paper, a description of the Securities and Exchange Commission will be given. Further describing the regulations which will protect the public from fraud within corporations and what that represents in the Sarbanes-Oxley Act of 2002. The Securities and Exchange Commission The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation (SEC.gov, 2013). The SEC is the regulatory agency which governs securities markets and protects investors. It is a regulatory agency which oversees securities transactions, activities of financial professionals and mutual fund trading to prevent fraud and intentional deception (SearchFinancialSecurity.com, 2015). The SEC is composed of five commissioners, three of which may not belong to the same political party. The commissioners serve staggered terms of five years. The Divisions of the SEC The SEC consist of five major divisions. The Division of Corporation Finance ensures corporate...
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...Ernst & Young “Business Leaders of Tomorrow” Case Contest Bigg Glowbell (BG) Case Study Table of Contents Table of Contents ................................................................................................................................................ 1 Assignment Background .................................................................................................................................. 2 Bigg-Glowbell Overview ...................................................................................................................................... 3 The Company History ...................................................................................................................................... 3 Revenue and Profits ........................................................................................................................................ 5 Bigg-Glowbell Global Locations ....................................................................................................................... 6 Bigg-Glowbell Organization, Products and Services ........................................................................................ 7 Ownership ..................................................................................................................................................... 14 Strategic Issues ..............................................................................................................................
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...the design of organisation structure. The fundamental step is to define organisational objectives to enable further analysis and comparisons of other forms of structure. Clarification of objectives A clear definition of objectives is vital to provide a framework for the design of structure of an organisation. Organisation objectives provide fundamental schemes for division of labour and creation of group units and sub units. Clearly stated aims and objectives will assist in decisions on the strategy and structural dimension to employ to achieve organisational objectives. Task and element functions Certain functions must be performed in order to produce a good or service, from the development of the good or service to finance of resources used in the complete processing. These functions are referred to as the task functions. The results of the task functions must be coordinated to ensure the efficient achievement of total objectives of the organisation. Element functions refer to vital parts of the management process and are supportive of the task functions such as human resources and public relations. Division of work An organisation needs to accomplish an overall task...
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...UNIT 6: ROOMS DIVISION OPERATIONS MANAGEMENT Get assignment help for this unit at assignmenthelpuk@yahoo.com LO1 Understand services provided by the rooms division in diverse contexts Accommodation services: roles and responsibilities; housekeeping; maintenance; working procedures; control mechanisms; decoration and furnishings; refurbishment; accommodation environment and occupancy; guest services and supplies; linen services and laundry; cleaning services; environmental issues; health, safety and security; documentation and records Front office services: roles and responsibilities; reception; advanced reservations; concierge; administration; working procedures; control mechanisms; interior design; first impressions; guest records; the guest cycle; occupancy rates and monitoring; selling and promotion; tariffs and discounting; billing; point of sale (POS); payment procedures; cash control and reconciliation; security Legal and statutory requirements: health and safety; hazardous substances; protective clothing; consumer law; price tariff and display; data protection; immigration (hotel records); diplomatic privileges Diverse contexts: hospitality businesses; at least three examples eg hotel, restaurant with rooms, university campus LO2 Understand the impact of contemporary management issues on the effective management and business performance in the front of house area Planning and managing: business/departmental plans; operations; procedures; POS management; security;...
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...Office of the New York State Comptroller Division of Local Government and School Accountability LOCAL GOVERNMENT M ANAGEMENT GUIDE Management’s Responsibility for Internal Controls Thomas P. DiNapoli State Comptroller For additional copies of this report contact: Division of Local Government and School Accountability 110 State Street, 12th floor Albany, New York 12236 Tel: (518) 474- 4037 Fax: (518) 486- 6479 or email us: localgov@osc.state.ny.us www.osc.state.ny.us October 2010 Table of Contents Who’s Responsible.............................................................................................................. 2 The Origin - Committee of Sponsoring Organizations ......................................................... 4 Integrated Internal Control Framework - The Big Picture ..................................................... 5 The Five Essential Elements of the Internal Control Framework ........................................... 6 Limitations of Internal Controls ..........................................................................................15 The Impact of Information Technology ...............................................................................16 The Role of Internal Auditors and Audit Committees ..........................................................17 Conclusion ....................................................................................................................... 20 Additional Resources...
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...Muromachi, President & CEO 6502 (TSE and NSE) Naoto Hasegawa, General Manager, Public Relations & Investor Relations Office Tel: +81-3-3457-2100 Notice on Toshiba’s New Management Team and Measures to Reform of Governance Structure, and Outline of Correction of Past Financial Statements and Financial Forecast Toshiba Corporation (the “Company”), has taken the causal analysis and recommendations on prevention of recurrence contained in the report of the Independent Investigation Committee very seriously, and established a Management Revitalization Committee to intensively discuss a new management team and reform of corporate governance, the members of which Committee include the Company’s four Outside Directors, a certified public accountant and an attorney-at-law, plus independent observers. Today, the Company hereby announces that candidates for the new Board of Directors have been decided, as in Attachment 1, and also announces an outline of the measures for reform of governance structure that have been discussed by the Management Revitalization Committee up to today. The Company is currently taking necessary procedures to correct and restate past financial results, and to finalize financial results for fiscal 2014, following the Company’s receipt and subsequent close examination of the investigation report received from the Independent Investigation Committee on July 20. Now that the outline of amounts to be restated in the past results and the forecast for...
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...Some of the issues KCC is facing relate to the division of responsibilities between a functional and a divisional structure, and how best to achieve an effective relationship between these areas. Manager talent is another concern. Managers are coming from a centralized structure, and some are not trained to handle divisional responsibility, although they have been tasked with this responsibility. Consequently, some of the decisions made by the divisional managers are questionable from the perspective of the owners. Corporate control over supply chain management and R&D has also caused issues with the divisional managers. Corporate controls supply-chain decisions, which takes away the division managers’ ability to control some significant cost decisions, such as which supplier to purchase from. Corporate also controls R&D, which can significantly affect product design and quality, and ultimately, customer satisfaction. This can lead to decreased financial results. Therefore, the overall issue relates to the controllability principle, and how to best assign responsibilities for various functions and encourage goal congruent decision making. To start the analysis, the advantages and disadvantages of decentralization are explored. Here are some of the advantages of decentralization: Freeing up top management time, thus allowing top management to focus on the most important decisions. Given Kevin’s increasing outside interests (ranching), this would suit his needs. ...
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...in order for proper operation. These areas fall within management that allow “a process of administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization” (Lewis & Goodman & Fandt & Michlitsch, 2007, Pg. 5). Under management, these basic functions, known as the basic managerial functions, are: planning, organizing, leading and controlling. The purpose of this paper is to establish research and evidence that confirms the Department of Financial Services (DFS) State Fire Marshals is a well managed, properly functioning organization that provides the most pristine service to its communities, when referenced to the above mentioned functions. The Department of Financial Services (DFS) is a state organization that has many divisions encompassing anywhere from financial accounting to law enforcement investigations. Under this organization, the Division of State Fire Marshals is a law enforcement investigations unit that conducts origin and cause investigations into fires throughout the state of Florida. The Bureau of Fire and Arson Investigations is the state law enforcement branch within this Division and are responsible for investigating fires both accidental and criminal. Dating back to 1973, the State Fire Marshal’s office was established and its main purpose was “suppression of arson and the investigation of the cause, origin, and circumstances of fire” (“DFS SFM History”, 2012). In 1976, the bureau became...
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