...Customer retention is an important element of banking strategy in today’s increasingly competitive environment. Bank management must identify and improve upon factors that can limit customer defection. These include employee performance and professionalism, willingness to solve problems, friendliness, and level of knowledge, communication skills, and selling skills, among others. The banking industry is highly competitive, with banks not only competing among each other; but also with non-banks and other financial institutions. In Kotak Mahindra Bank, customers are treated with due respect and in a very effective manner. Customer’s needs are kept in mind and the manager does every possible effort to satisfy and fulfill the needs of his customers. With a high rate of inflation and increasing rates by RBI it becomes difficult for a banking manager to enhance the sale of loans due to increase in lending rates. Customers require certain extra benefits in order to pay for the extra interest. If the customer’s requirements are not met it leads to customer fallout. Thus a bank manager always tries to retain its old customers rather because if these old customers are satisfied they spread a positive word of mouth thereby helping the bank to acquire new customers. In Kotak Mahindra Bank, the manager has resorted to additional benefits in order to retain its customers so that it can acquire new ones. The benefits taken up by the bank and the manager are as follows:- * For Corporate...
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...expenses have gotten me so frustrated that I gave up looking over my account and therefore, there is no savings. I don’t make enough money to hire an accountant, so I have decided to use the spreadsheets model so I can make better decisions about the problem. Spreadsheet models are also mathematical models, and its mathematics is more accessible than algebra and calculus. The spreadsheet is the second best way to do many kinds of analysis and is therefore the best way to do most of modeling. Spreadsheet based decision modeling is widely used in business today. The functionality provided within the current integrated packages allows users to develop very complex models. The purpose that I need the spreadsheet model is not going to be a complex model because it is for personal use. Budget spreadsheet is a basic practical tool to manage budget and thereby investments. I will use this to manage my money for any required purpose. Whether it is personal budget, family budget, household budget or home budget one can learn and manage to maintain budget using a budget spreadsheet. A budget spreadsheet will make it easy to manage income and expenses. It will also help me reduce the cost and gain benefits from my investments. Spreadsheet model will also allow me to avoid future debts or losses and it is better to do some math instead of loosing valuable money. There are a wide variety of budget spreadsheets available; I will choose a budget spreadsheet that considers many aspects so I am...
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...ACFI 2005 Finance. 3. A customer has approached your commercial bank seeking to invest funds for a period of six months. The customer is particularly worried about risk following the GFC and the market volatility that continues to characterise world financial markets. Explain the features of call deposits, term deposits and CDs to the customer and provide advice on risk-reward trade-offs that might be associated with each product. Answer: Commercial banks are the main type of financial institution operating in all major international financial systems. They control a significant proportion of the financial asset within the financial system. Recently, the majority of developed economies have significantly reduced the level of bank regulation and there has therefore been a considerable growth in the commercial bank sector. Following the GFC, this deregulatory phase was criticised for having contributed to the crisis. Thus, it is natural for the customer to be worried about risk following the GFC and the market volatility that continues to characterise world financial markets. Since the core function of commercial banks is to gather savings from depositors and investors and use those funds in the provision of loans to customers this customer’s approached towards our commercial bank seeking to invest funds for a period of six months can be recognised. Call deposits- call or demand deposits are funds held in a savings account that can be withdrawn on demand. Features of call...
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...Benefits of Exporting Goods By John F Black Ads by Google Export from China Made-in-China.com Wholesale Price from Manufacturers Join Us Today & Inquiry Directly! Export Agent Yiwu China www.Ejetgroup.com Sourcing,Translate,Buying,Inspect Warehouse, Ship, All Export Service Container Shipping Companies www.tgl.by Europe - Kazakhstan. Europe - Russia! Having a business is a difficult. You have to deal with a great deal of red tape while you are starting out. You spend all of your hard earned money on the business and you take on a small loan to get you started. Then, you worry constantly about making payments. You also need to address the problems with payroll, suppliers and customers. All the while, everyone thinks you are making out big while screwing everyone over when in fact you are working harder than anyone out there. It should be good to know that your hard work will soon pay off. You no longer need to scrounge the bottom of the barrel for a limited market full of cheapskates. There is an opportunity where you can sell your goods to a wider market and bring an untapped market to your business. You can do this with the magic of exporting. Exporting is a great way of growing your business because it opens up a multitude of opportunities for you and your business. The most obvious benefit is the additional income it provides. The more people you sell, then the higher income you would likely get. Aside from the added income there are other benefits to exporting your...
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...Leasing offers 100percent financing, protection against obsolescence, less costly, and can avoid being added to debt on the balance sheet. Leasing allows you to have less money to start out with and not having to put out more money then you may have. Purchasing provides tax benefits, perceived financial advantages. Purchasing also requires having more money at the start. When purchasing you will have to have a bigger down payment then you would need to have if you were to lease. Purchasing may require the monthly payments to be bigger. Though both are different, they can in turn be the same as a company may have the option to purchase later instead of continuing to lease the property. Debt financing is borrowing money from an outside source that will be returned plus the interest agreed upon. Two examples of debt financing are gaining a line of credit from a bank. This gives a company the funds to make purchases. Another example is real estate. The company would need to find a lender that specializes in commercial lending. Equity financing is selling shares of stock in that specific company. Two examples of equity financing are taking on a partner. This allows for money to come from other investors and help share the load. Another example is venture capitalist. These are people that invest money in promising companies for share of ownership in the company. Depending on the outlook of the company would depend on what would be better way to go. Equity...
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...7 Tips for Avoiding a Lifetime of Debt Written by Tejvan Pettinger - 41 Comments Categories: money and finance Increasing prosperity and economic growth has paradoxically led to record levels of personal debt. Modern life offers a bewildering array of possibilities for getting into debt — financial institutions make it as easy as possible. But, when you face a mountain of debt, don’t expect much help from them in overcoming the situation. Debt can bring anxiety, stress and unhappiness; but, by being aware of your financial situation you can enjoy life without permanently battling against the problem of debt. To avoid suffering from serious debt problems consider these suggestions: 1. Buy what you need It’s easy to buy things we actually don’t need or very rarely use. Look in your wardrobe and count the number of clothes that you rarely wear. Before buying a good, try to evaluate its usefulness to yourself; give it a mark out of 10. If you give items an honest score, you will think twice before spending $100 on your 7th pair of designer shoes. If you’re an impulsive buyer, try waiting a day before buying something. If you really want and need it you can come back the next day. 2. The $70 dollar test If you have a real problem with excess spending, try this test. For a week, give yourself $70 cash, and put away all credit cards. This forces you to live on $10 a day. When you are faced with a strict income, it forces you to be very careful in what you...
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...products demand is high and the supply is low then the price will increase, because people are buying large quantites of the product and if supply is high and the demand is low, It’s probable that people are not buying the product at that time so the price will generally be lower than it would if people were buying a large amount of the product. There will always be a need for homes because there will always be people that need them which makes homes inelastic. The terrorist attacks in September of 2001 created a substantial amount of uncertainty within our economy and spawned a consumer confidence crisis (CNN Money, 2001). The terrorist attacks created a domino effect within our economy which then caused a consumer confidence crisis which caused the Federal Reserve to lower interest rates further than they were on homes to make money more accessible to consumers. This increased consumers confidence. The lower interest rates helped people get loans to buy new homes and this cause the housing...
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...The country I know and love is gone. The land of the free and the home of the brave has become a seething cesspool of underpaid, uncaring, Godless, inconsiderate bastard children. Our commander-in-chief has become nothing more than a slumlord, demanding higher and higher taxes in various forms from his subjects, while the infrastructure of the nation crumbles beneath his feet. How long will it take before the infrastructure of our nation crumbles to the point of total disaster? How long can the government provided, prescription happy pill fed citizens of this once great nation support the burdens which are being placed on them? How long will it be before the demands of the rich can no longer be met? Demands such as ever-increasing safety ratings, ever-increasing profits, ever-increasing greed, ever-increasing cost of living and ever-increasing fees that are continually handed down to the poor, reaches a point that the poor can no longer afford to be poor? The day IS coming. Our once great nation will crumble under its own weight when the infrastructure gives way. The poor will scatter out of the way, and the rich will have the farthest to fall, and the hardest time adjusting. The poor (not including the government supported) have been trained for so long at surviving with a mere fraction of what is necessary for survival, that they will band together, and live off the land as they must. The rich, on the other hand will suddenly find that their wealth now holds no...
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...|2009 |Joliet Pediatrics Financial Office Policy | |By Candace Sanchez |[pic] | |Axia College of University | | |Of Phoenix | | | | | | | | | | | | | | Thank you for choosing our practice! Here at Joliet Pediatrics we are committed to the success of your medical treatment and care. Your understanding of our financial policy is an essential element of your care and service. Please understand that payment of your bill is part of this treatment and care. ...
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...Cash Management Services name HCA/270 September 04, 2011 teachers name Cash Management Services Cash management services are ideal for most if not all businesses. These services provide businesses with the tools they need in order to ensure that their money is being handled properly. I am going to compare the cash management services that are offered at three banks: Old National Bank, Fifth Third Bank and Chase. Old National Bank I chose Old National Bank firs because this is a bank that I am very familiar with. We have our auto loan through Old National and my previous auto loan was through them as well. They have excellent customer service and are always willing to help their clients out any way that they can. Old National Bank has one hundred and seventy locations in four states: Indiana, Illinois, Kentucky and Ohio with their headquarters located in Evansville, Indiana. Old National has a great online banking system. The site is very easy to navigate with many tutorials and demos provided. Under the business tab I am able to find out information regarding receivables, payables, information and money management along with fraud protection. Under each of these titles I am able to find out what services this bank provides while in the comfort of my own home. Receivables management states that they can help accelerate and improve my cash position. (Old National, 2011) Services offered include: express deposit, retail lockbox, wholesale lockbox, consumer direct debit...
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...Key Events/ Case synopsis Palmer Limited is an industrial Mechanical building contracting company from Saskatoon. Michael and Andrea Palmer founded it in 1986. They saved around $ 25,000 to start the business. They currently have 32 employees working under them. The main problem that they are facing now is the volatile market and decline in the housing construction business market in the current year. This is causing them troubles with the bank. Problem Statement and Objectives The Confederation bank is requesting an assessment of financial needs to maintain the bank’s support. Some critical issues that the company is facing are that the company is deviating from its core competencies. They are experiencing Cash flow problems. They are in a high debt right now. They are having a hard time collecting what is owed to them due to the market. The Confederation bank is asking the Palmer brothers to create a financial statement for the year of 1999, which will be the deciding factor for the bank weather to support Palmer Limited or not. They also want to see if Palmer Limited will be able to pay the debt or not. Situation Analysis Porters Five Forces The rivalry amongst existing firms is medium low. The number of competitors is equal and the business is balanced in comparison to all the employees. There is low growth rate, with high exit barriers and relatively low switching costs. The Bargaining power of suppliers is low. There are not many suppliers present in the market...
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...is little research in understanding the relationship of money and people. Money is not just numbers on a spreadsheet or bank account, money is an idea and construct that goes far beyond what’s just in your wallet. It has an impact on how women choose their mates. Money can drive us to act in prosocial and antisocial ways; increasing our self-sufficiency, but reducing cooperation. Our emotions can influence our thought processes about money without us even being consciously aware of it. In this paper, I will summarize research concerning these concepts and propose a study. The study will test whether conscious reminders of money with visual images from a film clip depicting high financial status activities such as; a person in an expensive sports car, and a person jewelry shopping etc. ,to women will result in a change in the self-perceived mood of the participant, and decrease the participates choice to engage in prosocial behavior Keywords: money, prosocial, female, emotion, financial status. The Impact of Conscious Reminders on Female Mood Alteration and Prosocial Behavior. Money. Money is not just about numbers. Money drives us to accomplish things, it drives us together it drives us apart, it solves problems, it creates problems, it gives us respect, it gives us worry. We crave it, we scorn it…and in modern life, we can’t escape it. Understanding how people think about, perceive and interact with money is vitally important to understanding the psychological underpinnings...
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...Final Exam Page 1 1. (TCO A) Which of the following is NOT normally regarded as being a barrier to hostile takeovers? (Points : 5) Abnormally high executive compensation Targeted share repurchases Shareholder rights provisions Restricted voting rights Poison pills 2. (TCO F) Which of the following statements is correct? (Points : 5) The NPV, IRR, MIRR, and discounted payback (using a payback requirement of 3 years or less) methods always lead to the same accept/reject decisions for independent projects. For mutually exclusive projects with normal cash flows, the NPV and MIRR methods can never conflict, but their results could conflict with the discounted payback and the regular IRR methods. Multiple IRRs can exist, but not multiple MIRRs. This is one reason some people favor the MIRR over the regular IRR. If a firm uses the discounted payback method with a required payback of 4 years, then it will accept more projects than if it used a regular payback of 4 years. The percentage difference between the MIRR and the IRR is equal to the project’s WACC. 3. (TCO D) Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 25% for the next 4 years, after which competition will probably reduce the growth rate in earnings and dividends to zero, i.e., g = 0. The company's last dividend...
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...Negotiation Skills Prior to the course, you are required to compile a one to two page self-reflection on yourselves as negotiators, describing a negotiation in which you were involved prior to commencing the MBA. In summer 2012 I was concerned about collecting enough money to cover all my MBA expenses (tuition fee + accommodation+ food+ travelling etc.) I did not want to take a bank loan because I was reluctant to experience the burden of interest expenses for many years. The majority of my friends did not want to give me a loan or were ready to give me only a small amount of money or were ready to give me a large sum of money but only for a short period of time. What I really needed is to a find a person who would agree to give me a long-term loan (1,5-2 years) on the amount of about 8000-10000$ without any interest expense. One day Dmitry Kurukin, an international chess master called me and invited me on a business meeting. He told me that he had a business suggestion to me. I came to his office and he suggested me to take part in the distribution of some products. Briefly speaking it was a Networking Marketing (like an Amway). Moreover he showed me products and suggested to buy some of them and to sign some agreement according to which part of my future product sales will be his profit. I became very disappointed because I spend almost one hour to reach his office and he suggested me such a ”shirt” as Marketing Networking. I am not a student or a salesman to be...
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...According to the bureau of labor statistics, data trends on unemployment from July to August 2012 were unchanged. At the end of August 2012 there were 3.6 million job openings on the last business day as there were in July. The Department of Labor stated that there is an employee hire rate of 3.3% and a separation rate of 3.3%; this is part of why the number of job openings did not change from July to August. The number of job openings changed in all industries except accommodation and food services, in these areas the numbers decreased. Overall this is an increase from 2009 where there were 2.4 million job openings. In 3 years we have increased the number of jobs available by 1.2 million jobs. Of this increase the amount of government jobs changed very little, jobs increased for nondurable goods manufacturing, wholesale trade, finance, insurance, and federal government. Most of the job openings are in the North East of the US and in the South. Positions decreased in mining and logging careers, this trend may stay on a decline due to the change of public interest. We are trying to conserve trees so logging positions are not as in high demand as they have been historically, we use more electronic communication than paper and we recycle, this all contributes to the decline of the logging demand. We are still building houses, and there is a need for logging to provide wood for homes, but even there we are using recycled materials and finding alternatives. Mining industry...
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