...BUSINESS CONCEPT SUMMARY (A) Your business summary should be completed last, be no longer than a page and should focus on why your business is going to be successful. Your answers below should briefly summarise your more detailed answers provided throughout the main body of your business plan. The business Under the business summary section enter your: * Business name If you haven't registered your business name, add your proposed business name. * Business structure Enter whether you're a sole trader, partnership, trust or company. * If you're a business and have registered enter your business registration number * Main business location Enter your main business location such as your city/town. Briefly describe the location and space occupied/required. * Date the business was established This is the date you started trading. Whether it was the date you opened your doors or the date your purchased business opened its doors. * List of business owners List the names of all business owners. * Relevant owner experience Briefly outline your experience and/or years in the industry and any major achievements/awards. * Products/services Briefly list the products/services you're selling and the anticipated demand for your products/services. These answers should briefly summarise your answers under the main products/services section. The future Under the future summary section enter your: * Vision and mission statements Your...
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...Financial stability and risk disclosure Keynote address by Mr Jaime Caruana, General Manager of the BIS, to the FSB Roundtable on risk disclosure, Basel, 9 December 2011. Abstract High-quality risk disclosure is good for markets, because it helps investors make more informed decisions. It is good for prudential supervisors, because it makes banks more accountable to both supervisors and investors. And it is good for financial stability, because it reduces the chance that unexpected events will disrupt the system. To be effective in promoting market discipline, disclosure must be complemented by strong incentives for counterparties to engage in monitoring. The public sector's role in promoting transparency arises from a number of market failures, including the externalities to be gained from common standards, the "free rider" problems that may lead to too little investment in producing and gathering financial information, and the tendency of markets to overreact to bad news when the information environment is clouded. Guided by these considerations, the Financial Stability Board and the Basel Committee on Banking Supervision have long supported improvements in transparency, through their work on accounting, disclosure templates and aggregate market data. At the same time, industry and investor representatives need to play a key role in developing disclosure standards. Accounting standards need to converge, standards for the discussion and analysis that accompany financial...
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................................................ The Financial Sector Assessment Program (FSAP) ............................................. The Reports on the Observance o f Standards and Codes (ROSC) ....................... The Financial Sector Reform and Strengthening Initiative (FIRST) .................... The Financial Sector Reform and Strengthening Initiative (FIRST) .................... Combating Money Laundering and Terrorist Financing (AML/CFT) ................. Debt Sustainability & Debt Management ............................................................. Social Protection................................................................................................... A. B. C. C. D. E. F. ANNEX Accounting and Auditing ........................................................................................... Corporate Governance ............................................................................................. Insolvency and Creditor Rights ................................................................................ 22 28 33 2 INTRODUCTION 1. In response to major financial crises in the 1990s, the international community embarked o n a range o f initiatives to help prevent crises and to manage them in the event that they nevertheless occur. This framework i s referred to as the International Financial Architecture (IFA). 2. Lessons drawn from the aftermath o f those financial crises underscored...
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...more international trade, it will make the globalization and the globalization has more benefits. For example, it can reduce the goods costing, which some countries can open the factories on China. However, the globalization has some disadvantages. For example, the global financial crisis occurred on 2008. This essay is going to analyses how globalization and global financial crisis in the business environment impact on the organization you work in and the tasks you undertake. The globalization refers to the system of contact among the countries of the world in order to improve the global economy. The globalization is the amalgamation of economics and societies all over the world. Globalization including economic, technological, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure (Hotbabefacthicks, 2010). The global financial crisis refers to a widespread economic emergency that began in 2007. Beginning with the crash of the United States financial system, the crisis quickly spread worldwide, thanks to the interconnected marks of modern global trading systems. It is still impossible to fully explain the effects of the global financial crisis, as the disaster continues to damage and impede markets worldwide even several years after the initial event (wiseGEEK, 2003-2012). To make the information more clear, we have an interview with two businesses Page 1 people, first...
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...Universal banking is the norm in lower- and middle-income countries. Ever- expanding safety nets also seem to be the norm in the 20th century in these same countries. Is there a connection between the two? Should the structure of the financial system influence the depth or breadth of the financial safety net adopted by governments? Why or why not? The role and the future of safety nets as an inherent feature of the majority of financial systems today have been debated widely following the recent financial and economic meltdown. In order to develop adequate reforms for the global financial system, it is important to understand the role of safety nets in both developed and developing economies and its interconnection with the financial institutions. This paper will investigate two major issues. First, it will analyze interconnection of safety nets and universal banks in the lower- and middle-income countries (LMIC). Second, it will look into interdependence of the safety nets’ features and the types of the financial systems. It will argue that safety nets’ breadth and depth should be influenced by the structure of the financial system. Universal banks and safety nets in lower- and middle-income countries The 20th century witnessed universal banks and safety nets spreading across the LMICs. The explanation of this phenomenon is complex as universal banks and safety nets developed independently, but definitely influenced and reinforced each other in the LMIC markets. ...
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...today's viewpoint Financial Crisis It’s commonly believed that the financial crisis happened during 2008~2009 is one of the most serious financial events in human history. A collapse of the US sub-prime mortgage market and the result of the housing boom in other industrialized economies have had a ripple-effect around the world. Furthermore, the other failures in the global financial system have surfaced. Some financial products and instruments have become so complex and twisted, that as things start to unravel, trust in the whole system started to fail. All of this comes at a price From 2006 to 2009, our economic world have been changed. Comparing the activities of 2006 and 2009. first, real GDP was essentially unchanged, making 2006-2009 the worst three-year period science 1946-1948. in spite of an essentially zero increase in production for the 2006-2009 period, personal consumption grew by almost 2 percent. however, private investment fell by more than 30 percent. on the other hand, the banks charged off $27 billion in bad bet for 2006, but this exploded to $191 billion in 2009. personal and business bankruptcies field in federal courts accelerated dramatically over the 2006-2009 period, with personal bankruptcies increasing by 136 percent, while business bankrupts increased by 209 percent. Since the outbreak of the financial crisis, the American banking system and the whole financial industry's problems have been exposed: many United States financial institutions went...
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... JPMorgan earned $97.9 billion revenue and recorded $21.8 billion in net income. In light of challenges, the firm demonstrated their ability to continuously build their business. JPMorgan raised more than $2.1 trillion in capital for its clients, and more than $75 billion of these capital expenditures went to nonprofit and government entities. Since the 2004 merger with Bank One, JPMorgan has done well against other financial companies and performed slightly below the S&P 500. The company’s tangible book value per share has steadily increased over time, showing a promising future for JPMorgan. Legal and regulatory costs have decreased the value of JPMorgan’s stock, which has lead to a lower price/earnings ratio. Though these legal matters have presented a formidable obstacle, JPMorgan is determined to overcome them over time to make sure the quality of its business shines. Overall, JPMorgan’s four franchises have strengthened their leadership positions, increased their market share, and have continued to deliver on their commitment to improve customer satisfaction and foster innovation. Scope The data and analysis within this report comes from the audited financial statements by PricewaterhouseCoopers for the fiscal year ending December 31, 2014. Findings 1) JPMorgan has an outstanding franchise that has emerged as an endgame winner a) Recent JPMorgan financial results have shown its great ability to adapt to both marketplace and...
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...The Process of Globalization, Deglobalization, and Reglobalization Lots of people questioning what had happened before, so then currently we come up with this kind of economic situation? What does it mean of globalization? When and how it is started? How does the process and its impact to the current world’s economic, politic, social, trade, technology, and culture dimension? How does the future of our world economic? And where are we now? In this essay I’m dividing the process of globalization into three stages which are globalization, deglobalization and reglobalization. Every stage on globalization process had caused many changes in global world. I’m going to explain when, why, and how each stage of globalization affect the world. Let me started with the first stage which is what we called as “Globalization”. We can describe Globalization as “A widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life such as economic, politic, and culture. It took place about a century ago between roughly 1850 and the start of World War I in 1914. We can defined "economic globalization" as the opening and deregulation of commodity, capital and labor markets which led to the present neoliberal globalization. "Political globalization" named the emergence of a transnational elite and the phasing out of the nation-state. "Cultural globalization" was the worldwide homogenization of culture. Globalization happened when transport costs rapidly...
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...Session 3 Gregory W. Noble and John Ravenhill, “Cause and Consequences of the Asian Financial Crisis,” in Gregory W. Noble and John Ravenhill, eds., The Asian Financial Crisis and the Architecture of Global Finance, ed., Cambridge, 2000, pp. 1-35 [pic] Summary: The Asian financial crisis resulted from the sudden flight of large amounts of capital from Asian countries that lacked adequate systems of prudential regulation, and whose foreign exchange rate proved disastrously brittle. The crisis was unique in its unprecedented severity of corporate distress and banking sector problems, and its quickness in recovery from the crisis. While technical improvements in the financial system were institutionalized, the crisis did not bring fundamental structural revisions, in both political and economic arena. Doughty resistance from entrenched ideologies and interests in the U.S, the U.K, and the IMF prevented the reforms and rearrangements in the international financial system from happening. ➢ The East Asian crisis---the severest jolt to the world economy since the Oil Shock in early 1980s. ➢ Asian Crisis ---spread from Thailand to Indonesia, the Philippines, Malaysia and Korea. Sequences---Export decline ( loss of investors’ confidence( Currency devaluation due to lack of foreign reserve( IMF emergency fund requiring tight budget and monetary policy( increase in non-performing loans and damage in domestic industries ➢ Drastic increase in international private capital...
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...Strategy Map – DEPARTMENT – Funds Department The following illustration depicts the strategy map of the DEPARTMENT – Funds (R&S) Department. The business unit, reports under the Financial and Distribution Services Division of DEPARTMENT. The key responsibilities of the Funds Department is to facilitate the collection of sales amounts due from Travel Agents, and settling of the funds due to Airlines, this process is done through the Hinge Bank Account while ensuring the funds of the Airlines are safeguarded against any risk. The business unit is comprised of a Central Team in XXXX, managing the coordination and development of the process, combined with a Regional Team responsible for execution of the daily operations. The development of the strategy map, allows the Funds department to address the following areas: ➢ Identification and Alignment of the Funds objectives with the “DEPARTMENT Strategic House” and Vision. ➢ Communication Tool to allow the stakeholders to understand the key areas the department are focusing on. ➢ Identifying the cause and effects of implementing certain processes and strategies, and how this would contribute to driving the organizational objectives. [pic] [pic] Learning and Growth Perspective People, Performance & Development: ➢ One of the key objectives of DEPARTMENT is to deliver its mission, by making the organization a great place to work through living and upholding its values on an everyday...
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...Module 1 - The Accoutant As Strategic Business Adviser The Need For Advice 1.4 (9 issues small business entrepreneurs seek advice about - business structure, IP, liability, regulation, contracts, etc) 1.4 (Malach, Robinson & Radcliff 2006) 1.4 (business efficiency & productivity, management information systems, risk management & internal controls) 1.5 (strategic level - selecting appropriate growth strategies, identifying new products and markets, etc) 1.5 (the need for advice variety of reasons - consider the demand for advice arises) 1.5 (Xiao & Fu 2009) 1.5 Table 1.1 - Characteristics Of Different Sized Organisations 1.6 (SE MSE LE - organisation, strategy, customer/community, financial, governance, work force, IT processes) 1.6 Requests For Advice: Operational - Srategic - Global 1.7 (improving operational performance, greater strategic role, globally relevant issues) 1.7 Example 1.1: A Busniess Dilemma 1.7 Counterpoint (opposing arguement, soft skills, first: make the right decision about the services they perform - second:) 1.7 Providing And Implementing Advice (technical skills, soft skills) 1.8 Figure 1.1 - Providing Business Advisory Services 1.8 (issue, requirement, request, investigation, advice, decision, implementation) 1.8 (recommend actions should be well supported, identify key stakeholders) 1.9 Figure 1.2 - The Chain Of Events For Business Advisory Services) 1.9 Example 1.2: Succession Plan - Please Help 1.9 ...
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...ISLAMIC FINANCE: CAN IT BE A REMEDY FOR FINANCIAL CRISES? I. INTRODUCTION The financial system is at the heart of the modern economy. When this system works well, it enables to allocate resources that maximize the productivity of the economy. On the contrary when it does not work properly, the whole economy starts to decline. Because financial system must be considered as an in-built part of real economy in terms of credit mechanism. The recent global financial crisis began in August 2007 and after this time it spread gradually to the financial markets in the world. Although it is not severe as in its beginning phase but recovery is not but its aftershock is still going on. There has been numerous research conducted by many economists and analysts. According to the many of these studies, risky transactions, lack of surveillance, and greed that underlie this financial crisis. The relationship between Islamic finance and the financial crises has been discussed by many authors in some of these research. All those works has been done after the beginning of the global financial crisis. Thanks to its strength aspects include risk sharing mechanism, strict Sharia governance rules, tighter supervision and transparency policy, almost all of these works have been concluded that Islamic finance may make significant contributions to prevent financial crises like the current one. Also the reality of the limited impact of the current global financial crisis on Islamic Finance-based institutions...
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...quite often do arise unpredictably due to new insights, unexpected advances in technology or competitive activities in the market place. All companies have their way of identifying and dealing with these being their most critical strategic questions. However, theprocess of managing emerging strategic issues is typically non-structured, not necessarily optimally suited to enable the effective identification of the most critical questions and the appropriate allocation of top management attention and corporate intelligence support to answer the identified strategic questions. Despite the past research during 1960s, 1970s, and 1980s into the domain of strategic issues (SI), strategic issue management (SIM), and strategic issue management systems (SIMS) there is a scarcity applicable approaches for firms to use in improving their attention focus and distribution in strategic issue management processes. The underpinnings of strategic management hinge on managers gaining an understanding of competitors, markets, prices, suppliers, distributors, governments, creditors, shareholders, and customers worldwide. The price and quality of a firm’s products and services must be competitive on a worldwide basis, not just on a local basis and as such the need to understand the issues facing companies is a key denominator in global...
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...| About IMF The International Monetary Fund (IMF) works to bring up International Monetary Cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and to reduce the poverty around the world. IMF was created in 1945 and it’s an organization of 187 countries. Why IMF was created and how it works? The IMF, also known as the “Fund,” was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United States, in July 1944. The 44 governments represented at that conference sought to build a framework for economic cooperation that would avoid a repetition of the vicious circle of competitive devaluations that had contributed to the Great Depression of the 1930s. Work of IMF The primary mission of the IMF is to provide financial assistance to countries those countries who experience financial and economic difficulties and to sought those difficulties they are given financial help by using funds deposited with the IMF from the institution’s 187 member countries. Member of IMF states with balance of payments problems, which often arise from these difficulties, may request loans from IMF to help fill gaps between what countries earn and/or are able to borrow from other official lenders and what countries must spend to operate, including covering the cost of importing basic goods and services. In return, countries are required to launch certain reforms which have often been dubbed...
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...G-20 Finance Officials to Urge Spending Ramp-up, Economic Overhauls By The world’s top finance officials meeting in China this week will urge their counterparts to ramp up spending and speed economic overhauls to revive flagging growth, worried about an overreliance on easy-money policies that could spell trouble for the global economy. A series of global market routs and rising recession risks have raised the stakes for the Group of 20 leading economies as they try to craft a coordinated strategy to boost the world’s economic output and calm investor jitters. The problem is figuring out how to revive demand in a world where central banks are running out of gas and most of the world’s biggest growth engines are downshifting, idling or struggling to get out of first gear. The solution, many G-20 officials have indicated in recent days, is a stronger effort to restructure stagnating economies and increase investment in infrastructure. “We have to commit to using all policy levers,” said U.S. Treasury Secretary Jacob Lew in an interview. “The burden shouldn’t be on any one of the policy levers, either excessively or certainly not exclusively.” Worried about a dimming outlook, the International Monetary Fund on Wednesdaycalled on the G-20 to engineer “coordinated demand support, using available fiscal space to boost public investment and complement structural reform.” The temptation, however, will be to keep relying on monetary policy or even currency depreciation to spur exports...
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