...IOSR Journal of Business and Management (IOSR-JBM) ISSN: 2278-487X. Volume 5, Issue 4 (Nov. - Dec. 2012), PP 01-04 www.iosrjournals.org The Hallmark Corruption: Supervisory Lapses of the Banking System in Bangladesh 1 1 2 Munshi Samaduzzaman, 2Fazluz Zaman Adjunct lecturer, Central Queensland University, Australia Adjunct lecturer, University of New South Wales, Australia Abstract: The implications of the efficient bank supervisory and strong regulatory implementation strategies in Bangladesh Bank will be needed in order to overcome the continued crisis in the banking system. This should be a wakeup call to everyone in the banking industry in the country to further develop and strengthen the strict monitoring of the banking mechanism strategies. At the same time, in order to investigate the numerous misalignments in the supervision of both banking institutions and Central Bank of Bangladesh as well as to integrate the appropriate linkages between proper implementation of the bank regulatory and supervisory structures. The result of this study suggests that there is a strong need for focusing on the dual banking system, as well as a need to increase the efficiency in the technical areas, as well as a tooth for a tooth law in order for the Central Bank of Bangladesh to beat numerous fraud activities in the banking sector. Proper growth and profitability and transparency in the entire banking sector will be achieved through a strict implementation of banking policies...
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...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...
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...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...
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...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...
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...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...
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...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...
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...Objective: The most recent financial sector crisis of Bangladesh is the “Hallmark-Sonali Bank Loan Scandal “. This crisis identified in the year 2012 and it has been took place from the year 2010 and finally disclosed in 2012. To learn lesson from this incident and prevent further recurrence, study in depth of this crisis is very important. Background: A central bank probe found that Sonali Bank high-ups, including a deputy managing director, a general manager and the branch manager, were directly involved in the scam. The amount embezzled by the six entities is equivalent to almost 15 percent of the total estimated cost of the $2.9 billion Padma bridge project. Of Tk. 3,547 crore, Hallmark Group alone took away Tk. 2,686.14 crore, T and Brothers Tk. 609.69 crore, Paragon Group Tk. 146.60 crore, Nakshi Knit Tk. 66.36 crore, DN Sports Tk. 33.25 crore and Khanjahan Ali Tk. 4.96 crore. Of the six borrowers, Hallmark has been found to be the biggest fraudster. Analysis and Research: Bangladesh experienced the biggest financial scam in the year 2012 which is commonly known as the “Hallmark-Sonali Bank Loan Scandal “. To understand, analyze and research this scam in depth, let’s look for the answer of the following questions: . What happened? . How did it happen? . Why wasn’t the malpractice prevented or discovered sooner? . What has been the fall out? . Is it Hallmark’s success or failure of Sonali bank? The first question is: What happened? In May 2012, a report...
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...[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...
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...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...
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...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...
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...[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...
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...[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...
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...24. Hallmark Gardens Discover a world of possibilities at the Hallmark Gardens. Designed as a more luxurious take on condo living, this complex includes everything that residents need to enjoy life in Burlington, Massachusetts. Unlike many of the condos in the area, this property offers surprisingly affordable prices. First-time buyers and investors can easily discover properties available for less than $200,000. Residents can stop renting and start living life for an affordable price. As an added benefit, this property offers fairly low condo fees. From comfortable amenities to a desirable location, these condos include everything residents need to enjoy their new home. Amenities at the Condominium Located at 4 Hallmark Drive, this condo community is filled with modern conveniences. Within these units, residents will find gorgeous cork floors. This type of flooring is known for its beauty, but it is...
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...COVER PAGE Table of Content Page Number Table of Contents Executive Summary Module 1 - Identifying Global Business Opportunities Module 2 - Analyzing International Competitors Module 3 - Assessing the Economic/Geographic Environment Module 4 - Assessing the Social- Cultural Environment Module 5 - Assessing the Political Legal Environment Module 6 - Selecting a Global Company Structure Module 7 - Financing Sources for Global Business Operations Module 8 - Creating a Global MIS (Management Information System) Module 9 - Identifying Human Resources for Global Business Activities Module 10 - Managing International Financial and Business Risks Module 11 - Product Target Market Planning for Foreign Markets Module 12 - Designing a Global Distribution Strategy Module 13 - Planning a Global Promotion Strategy Module 14 - Selecting...
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...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...
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