...Newspapers have published quite a number of reports on gross irregularities in loan sanctioning and disbursement by the state- owned financial institutions. But one particular loan case, now being dubbed as Hallmark Scam because of its huge size and indifference, deliberate or otherwise, on the part of the management of the country’s largest public sector bank, has come as a real shocker. As the details of the scam are coming out gradually, the people concerned are suspecting that something has gone seriously wrong inside the state-owned banks. The Hallmark corruption with Sonali bank is one of the biggest scam of Bangladesh. The finance minister's initial comment on Bangladesh Bank's authority to recommend the change is not justified. The managerial system errors was the lack of audit teams; special audit teams, investigation team and supervision teams of all the government, non-government and specialized banks and they should be trained to be better adapted. The faulty system of our country led this thing to take place. The people working under the Sonali bank were not fully ethical and loyal and that is one of the reasons for such corruption taking place. The minister, however, did not comment on how strong the presence of political appointments could be on the boards of the state-owned commercial banks (SOCBs). A central bank official alleged that some board members were also involved in the Hall-Mark scam, adding that the Bangladesh Bank informed...
Words: 721 - Pages: 3
...What is Management? Management is the process of achieving organizational objectives through people and other resources. On the other hand we can say, management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. The manager’s job is to combine human and technical resources in the best way possible to achieve the company’s goals. The concept of management has acquired special significance in the present competitive and complex business world. Efficient and purposeful management is absolutely essential for the survival of a business unit. Management concept is comprehensive and covers all aspects of business. In simple words, management means utilizing available resources in the best possible manner and also for achieving well defined objectives. It is a distinct and dynamic process involving use of different resources for achieving well defined objectives. It is the end result of inputs and is available through efficient management process. The term management is used extensively in business. It is the core or life giving element in business. We expect that a business unit should be managed efficiently. This is precisely what is done in management. Management is essential for the conduct of business activity in an orderly manner. It is a vital function concerned with all aspects of working of an enterprise. What are the functions of Management? Effective management involves creative...
Words: 2082 - Pages: 9
...means who they are currently owned by or who owned them first a. Crayola LLC (then, Binney & Smith) became a wholly-owned subsidiary of Hallmark Cards Inc., based out of Kansas City, Missouri. b. This change from “Binney & Smith” to Crayola LLC was made in order to improve branding. Although they produce many products outside of crayons, the crayon is the most widely known staple of the company; the purpose of the name change was to honor this. 4. Subsidiaries a. Crayola LLC is a subsidiary of Hallmark, but there are other subsidiaries under Hallmark’s control. i. Crayola LLC was acquired by Hallmark in 1984, and their headquarters are in Easton, PA. Other brands under the Crayola LLC subsidiary are: Crayola art products, Silly Putty, Portfolio series art materials, and the Crayola Experience. ii. Crown Center Redevelopment Corporation was founded in 1968, and their headquarters are in Kansas City, MO (across from Hallmark Cards, Inc. This business primarily serves as a commercial and residential complex in promoting tourism alongside Hallmark headquarters. iii. Crown Media Holdings, Inc. was founded in 1999, and its headquarters are in Studio City, CA. They operate a number of businesses that all operate as cable networks to promote Hallmark Channel and Hallmark Movie Channel. iv. DaySpring Cards, Inc. was acquired by Hallmark in 1999, and their...
Words: 482 - Pages: 2
...Chris Bennett MKT 303 March 26, 2013 Crayola Analysis Company Profile: 1. Company’s Corporate Name: a. Crayola LLC 2. Company’s Corporate Headquarters: b. 1100 Church Lane Easton, Pennsylvania 18044-0431 3. Parent Company: c. Binney and Smith was acquired by Hallmark Cards Inc in 1984. 4. Subsidiaries: d. Silly Putty e. The Crayola Experience 5. Mission Statement: f. Crayola does not currently have a company mission statement but since they are a subsidiary of Hallmark Card Inc, they could fall under their mission statement which is: “We will be the company that creates a more emotionally connected world by making a genuine difference in every life, every day.” 6. Core Competency: This part was found in Crayola’s Social and Environmental responsibility portion of their website. g. Ensuring the best product safety and quality: i. Crayola wants to provide their customers with a safe and high quality age appropriate product. Since they started in 1903 they strived to make sure all of their products are non-toxic and safe for not only people but the environment as well. They want to earn their customers trust by creating great and safe products. h. Being a good corporate citizen: ii. Crayola’s headquarters, manufacturing facilities and sales offices are located in communities where there employee’s live, so Crayola believes it is important to support and invest in these...
Words: 1615 - Pages: 7
...Company’s corporate headquarters Crayola has called Easton, Pennsylvania its home since the early 1900s. Today, the company’s world headquarters and major manufacturing facilities are located there. The location is: 1100 Church Lane Easton, Pennsylvania 18044-0431 They also have manufacturing facilities in: • Bathlehem, Pennsylvania • Mexico City, Mexico And International Sales and Marketing Facilities in: • Canada • Engalnd • Australia • France • Mexico • Italy • Spain 3) Parent company In 1984, Crayola became a wholly-owned subsidiary of Hallmark Cards and has since played the lead role in Hallmark’s personal development strategies. 4) Subsidiaries Since Crayola is owned by Hallmark Cards, the subsidiaries listed below are Hallmark’s. a. Crayola LLC Founded in 1903 and acquired by Hallmark in 1984. The headquarters are in Easton, PA. Its major products/brands are: Crayola art products, Silly Putty, Portfolio Series art materials, Crayola...
Words: 3330 - Pages: 14
...two companies that implemented diversification strategies with very different results: one successful and one that wasn’t. It will conclude with possible reasons why their outcomes were different and suggested actions the unsuccessful company could have taken that would have resulted in a successful outcome. Hallmark Cards, Inc. Hallmark Cards was first incorporated in 1923 and is now the world’s largest greeting card company. They distribute their cards and other products in more than 30 languages to more than 100 countries and in 2006 had $4.1 billion in sales. In the US alone, their products are sold in over 40,000 retail outlets, they have over 20,000 employees, and they continue to be privately held (“Hallmark Cards, Inc.,” 2007). Even in the early years of the company’s history, Hallmark saw a need to diversify and it continues that strategy today. Early diversification efforts were related to products like wrapping paper and stationary. These were products that were logically connected to their core greeting card business. As early as 1951, they began to demonstrate more creative diversification efforts by sponsoring their first Hallmark Hall of Fame television production. In 1966 the company began plans to expand into the international market, acquired a manufacturer of jigsaw puzzles and the following...
Words: 2126 - Pages: 9
...[pic] Crayola LLC 1100 Church Lane Easton, PA 18044-0431 Phone: (610) 253-6271 Fax: (610) 250-5768 www.crayola.com Parent Company Crayola became a wholly-owned subsidiary of Hallmark Cards, Inc. in 1984. Subsidiaries Crayola’s subsidiaries include Portfolio Series and Silly Putty. Binney and Smith acquired the rights to Silly Putty in 1977. Mission Statement Crayola does not have a formal mission statement. This is probably due to the fact that they are a subsidiary of Hallmark Cards, Inc. If they were to ever formalize a mission statement it should be the following: “The business we're in: The best quality, safest products for colorful visual expression for enjoyment, learning and work.” Core competency Crayola’s core competencies, taken from the vision section the website, include: Obsessed with Consumer Needs: Be passionate about meeting consumer needs. Constantly ask: What are the implications for the consumer? Take the initiative to learn about our consumers and competitors. Make decisions based on insights about the consumer. Proudly represent our brands when talking to others. Remind each other about the importance of the consumer. Biased for Action: Be impatient and unsatisfied with the status quo. Move faster internally than the external world. Develop and implement impactful solutions. Exploit ideas and opportunities quickly. Take ownership and accountability for action and results. Act, learn, and make changes as needed. Respectful...
Words: 1516 - Pages: 7
...[pic] Crayola LLC 1100 Church Lane Easton, PA 18044-0431 Phone: (610) 253-6271 Fax: (610) 250-5768 www.crayola.com Parent Company Crayola became a wholly-owned subsidiary of Hallmark Cards, Inc. in 1984. Subsidiaries Crayola’s subsidiaries include Portfolio Series and Silly Putty. Binney and Smith acquired the rights to Silly Putty in 1977. Mission Statement Crayola does not have a formal mission statement. This is probably due to the fact that they are a subsidiary of Hallmark Cards, Inc. If they were to ever formalize a mission statement it should be the following: “The business we're in: The best quality, safest products for colorful visual expression for enjoyment, learning and work.” Core competency Crayola’s core competencies, taken from the vision section the website, include: Obsessed with Consumer Needs: Be passionate about meeting consumer needs. Constantly ask: What are the implications for the consumer? Take the initiative to learn about our consumers and competitors. Make decisions based on insights about the consumer. Proudly represent our brands when talking to others. Remind each other about the importance of the consumer. Biased for Action: Be impatient and unsatisfied with the status quo. Move faster internally than the external world. Develop and implement impactful solutions. Exploit ideas and opportunities quickly. Take ownership and accountability for action and results. Act, learn, and make changes as needed. Respectful...
Words: 1516 - Pages: 7
...[pic] Crayola LLC 1100 Church Lane Easton, PA 18044-0431 Phone: (610) 253-6271 Fax: (610) 250-5768 www.crayola.com Parent Company Crayola became a wholly-owned subsidiary of Hallmark Cards, Inc. in 1984. Subsidiaries Crayola’s subsidiaries include Portfolio Series and Silly Putty. Binney and Smith acquired the rights to Silly Putty in 1977. Mission Statement Crayola does not have a formal mission statement. This is probably due to the fact that they are a subsidiary of Hallmark Cards, Inc. If they were to ever formalize a mission statement it should be the following: “The business we're in: The best quality, safest products for colorful visual expression for enjoyment, learning and work.” Core competency Crayola’s core competencies, taken from the vision section the website, include: Obsessed with Consumer Needs: Be passionate about meeting consumer needs. Constantly ask: What are the implications for the consumer? Take the initiative to learn about our consumers and competitors. Make decisions based on insights about the consumer. Proudly represent our brands when talking to others. Remind each other about the importance of the consumer. Biased for Action: Be impatient and unsatisfied with the status quo. Move faster internally than the external world. Develop and implement impactful solutions. Exploit ideas and opportunities quickly. Take ownership and accountability for action and results. Act, learn, and make changes as needed. Respectful...
Words: 1516 - Pages: 7
...FINAL REPORT OF “SHOPPING PATTERNS OF THE PEOPLE INSIDE THE GIFTS SHOPS AND HOME DÉCOR SHOPS – A COMPARITIVE ANALYSIS (September 4, 2010) In partial fulfillment of the requirements of the course "Retail Marketing" of MBA (Full Time) CARD AND GIFT: For the past decade or so the gift and card industry has been growing at a rapid rate and gaining market share. At the whim of discretionary spending, gift shops and card stores rely on low-margin, high-volume sales and are finding it increasingly difficult to compete with supermarkets and online retailers. The key to survival is consolidation and vertical integration which is seeing the number of companies decline while store numbers edge up. The cards and gift shops fall into the impulse purchase category. The product mix includes: cards, collectible gifts, gift wrap, holiday and seasonal decoration, novelties, party supplies, souveniers, etc. Gift shops come as both standalone stores as well as part of supermarkets. In India these stores are franchisees, chain retailers, as well as independent retailers. The customer base is spread over a wide demography, but the main consumers are young. Some of the main players in this category are: Archies: [pic] Archies was founded in 1979 as a mail order poster shop, and introduced its first line of greeting cards in 1980. The company procured its first ever foreign license from Walt Disney, USA in 1984 and offered its customers some of the best loved Disney characters...
Words: 7856 - Pages: 32
...Overnight delivery of greeting card service by the USPS has the biggest competitor, which is Hallmark Greeting Cards Company. Hallmark is the largest manufacturer of greeting cards in the United States. It has owned the whole greeting cards market for almost 100 years. Hallmark greeting cards, or gifts can be mailed to the customer by the next business day. That is why we could say the Hallmark Greeting Cards Company is the strongest competitor to the overnight night delivery of greeting cards by the USPS. This analysis of the competitor, Hallmark could help the USPS to get succeed in greeting cards market. There are several strengthens of the Hallmark greeting cards. First of all, Hallmark greeting cards has occupied the greeting cards market for 100 years. It is the most successful brand greeting cards at this area because its high quality. The second, Hallmark greeting cards are more attractive than other greeting cards. As we all know, Hallmarks offers or has offered greeting cards, ornaments, and related gift products from many famous licensors, such as: Dream Works Animations, even 20th Century Fox. Most cartoon, and movie figures cannot be published without licenses, but Hallmark has the corporate relationship with those licensors. That is why some figures only could be used by Hallmark. On the other hands, there are several weaknesses of Hallmark greeting cards. First of all, Hallmark greeting cards is limited on languages service. United States is an immigrant country, so...
Words: 908 - Pages: 4
...that there were actually more cons than pros. * * As mentioned in the report LIBOR has been the catalyst for fraud and unfair play in the past years. This being said I cannot see this reform in LIBOR go the right way for either party. The FED might have already lost the trust of many people around the world with the scandals of late that have taken place. Many people were hurt when they took out loans and LIBOR was artificially high. However, when LIBOR was artificially low people paid less than they should have. This is a small example on the controversy of whether or not LIBOR should be reformed or completely thrown out the window. * * LIBOR is a very important index, which serves as a benchmark for derivatives. Being the most widely used interested rate in the world, it is not easy to just throw it out the window, as many people who were on the brunt of the scandal would wish. * * I believe that LIBOR is not as risk-free as we think it is. I believe that the scandals that were taken place proved that. Many people lost their savings and not only were the savings lost, but the banks that were the cause of the scandal were stealing it. This, I believe speaks for itself to answer the question if LIBOR is as risk-free as we think it is. I believe we were led to believe that is was a fixed fair rate, however we have seen that it can be manipulated and artificially fixed in ways in which we can lose our money. This is a big reason why I believe...
Words: 351 - Pages: 2
...scandalous and creates wide seethe and uproar from the public who are the ultimate victims of these scandals. For many reformers and speakers it may take ages to bring a matter of public concern in front of people, which when scandalized became notoriously famous without any help. For example wiki leaks had generated mass curiosity around the world about the facts and events which were otherwise completely obscure and esoteric to general public. With increased freedom of the forth estate everything is out in the open ,all political scandals ,social scandals and even financial scandals are watched ,scrutinized and are brought to justice. In the 21st centaury where social networking has dissolved all the known physical boundaries, a scandal of one country is a popular talk of another continent, people discuss ,debate and provide solution to the problem which arose because of the so called scandal, which we can never imagine happening half a century ago. The Bernie Madoffs in famous embezzlement scandal has created waves of dissatisfaction among the masses, and demanded higher level of probe and investigation in the matter. The Italian prime minister’s sex scandal has stumped the world and raised questions about the moral conduct about the leader. No reformer or speakers could have generated such wide spread awareness about a issue or a problem within the society .Thus scandals play a major roles in generating general awareness and finding root cause for a problem ,which...
Words: 294 - Pages: 2
...Mr. May APLAC December 16 2012 Jack Abramoff Corruption in governments inspires frantic media coverage and people to lose faith in politics. The United States has a long history of these scandals that has initiated some concern about the way the government is run. Jack Abramoff, a once powerful lobbyist, was recently involved in one of the largest scandals in Washington. Abramoff rose from, generally, nothing to becoming America’s most notorious lobbyist. When scandal ultimately cast him down, Abramoff was sentenced to four years in federal prison for fraud, tax evasion, and conspiracy. While serving his term in jail, he had received vile and harsh insults that depicted him as “scum” and “evil.” Now released from the penitentiary, Abramoff is the author of the novel Capitol Punishment. By writing this book, he tries to expose the truth about the broken the U.S. Government system really is but also justify his actions and hope to redeem little pieces of his honor. Using clever diction, syntax, and numerous appeals to pathos, Jack Abramoff attempts to repent for his actions and gain redemption. Abramoff’s diction allows for the audience to view his actions in an alternative more positive direction, rather than maliciously and with anger. The first few chapters of the book describe his childhood and formative years. His conservative principles and his calculating self brought him early spotlight and success in the political realm. Abramoff, for about the first half of his...
Words: 1344 - Pages: 6
...leave room for interpretations and the standards never change, which give the impression that there cannot be many, if any, grey area’s which would allow for human judgment to take place. Actually nothing can be further from the truth and as I grew within the army I began to see a natural competition and even a division among the different services in the areas of moral and ethical standards, although all of us fight the same fight there is still a recruiting battle that exist to find, sign and train the best people possible from the civilian ranks and anytime you have that element ,it will cause potential members to “choose sides”. Each of our services has suffered through many different scandals over ethical dilemmas. The Navy in 1991 suffered the infamous “Tailhook Scandal” where Lt. Rebecca Hansen, a trainee helicopter pilot charged that her failing grades were in direct retaliation for her bringing charges against a flight instructor, and later when Gulf War Hero and then Vice Chief of Naval Operations, Admiral Stanley Arthur, ruled against her, she then reported the incident to Senator David Durenberger of Minnesota who in turn as the New York Times, Goodman, W. (1996) reported “blocked Commander Robert E. Strumpf’s appointment to the Commander of the Navy in the Pacific”, which is the largest operational...
Words: 1460 - Pages: 6
