...organization, organizational culture holds together a group of people with similar attitudes or personalities. Benjamin Schneider pointed that these similar employees are more likely to stay than those who are dissimilar in personalities. National Australian Bank (NAB), with 26,000 out of 44,000 staff working in Australia where ethnic diversity and individualism are dominant, responses quickly to this national culture. Succeeding setting up an organizational culture of appreciating diversity and autonomy, NAB witnessed an increase in the return rate of employees on leave by 16% from 2006 to 2011. Effective management of diversity Among 11 steps a manager can take to manage diversity effectively, given in Waddell (2007, 135-138), NAB sits comfortably along with the theory by securing top management commitment, increasing diversity skills, encouraging flexibility and mentoring of diverse employees. Also, Based on the Hawthorne effect, the bank set up a top management commitment to keep employees happy, which is based on appreciating diversity, so as to improve performance level. NAB builds on diversity supports by employing people with disabilities (DWA, 2007), women and people over 50 (AARP, 2011). Louis indicates that NAB has established a program called Reconnect which is established to facilitate communication between employees, and in turn ensuring improvements in their ability to work with colleagues with different cultures or...
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...Cultural change program 1. Compare and contrast the old and new cultures at NAB The old culture at NAB typifies a “Market Culture”, characterised predominantly by the competitive behaviour of employees and driven by a profit motive. The facts of the case describe a bureaucratic business structure and an internally-focused culture (as opposed to customer-focused). The behaviour exemplified by the trader’s leading up to the 2004 scandal exemplifies that each individual department worked to optimise their own internal efficiency and there was a lack of divisional cooperation and communication (i.e. hoarding important information). Furthermore, the lack of adherence to the bank’s policies demonstrates that the bank had a weak compliance framework – a result of either a lack of awareness of policies and procedure or lack of accountability for when they were breached. Leaders were decisive and achievement orientated, however, the loss of these key personnel following the scandal also meant there was a lack of visible and consistent leadership. Moving away from the old “Profit is King” culture, NAB’s new culture prioritises “people, customers and communities”, and therefore epitomises a “Clan Culture”. A Clan Culture is on the opposite end of the spectrum to a Market Culture (see Appendix 1). Leaders, rather than being hard-drivers, are to be seen by staff as mentors and facilitators. A new emphasis is placed on employee morale and teamwork, so that a sense of family is created and...
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...NAB Visa Debit Card “Use your everyday account where Visa is accepted.” NAB Hayley Plose – 695443X Natasha Underwood - 6534783 Tristan Moran - 6945627 Executive Summary Contents Executive Summary 2 Introduction 5 Situation Analysis 6 Competitors 6 PESTEL Analysis 6 SWOT Analysis 7 Market Size 8 Major users 9 Motivating factors 9 Information Search 10 Product Description 11 IMC Objectives 12 Target Audience 13 Segmentation 14 Budget 14 Communication Strategy 15 (1) Receiver/Comprehension 15 (2) Channel/Presentation 15 (3) Message/Yield 15 (4) Source /Attention 16 Creative Strategy 17 Advertising Campaign Theme 17 Television and Radio Media 18 Magazine and Newspaper Media 19 Support Media 19 Media Objectives 20 Media Messages 21 Website 24 Sales Promotion 24 Campaign Research and Evaluation 25 Conclusion 26 Recommendations 27 References 28 Bibliography 29 Appendices 30 Introduction NAB Smart Everyday Accounts gives you access to your own money via NAB Visa Debit. Like a credit card, it enables you to make purchases online, over the phone, overseas, or wherever Visa is accepted, but all the time using your own money. The NAB Visa Debit card is the key to an evolving E-commerce world. The campaign is being developed to attract the new generation of 16-18 year olds, who don’t have a credit card and are wishing to make online purchases. It is important for pre-adolescent to feel independent...
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...Actions Taken by NAB after Crisis 3. Comparison to 2008 Trading Loss in SocGen 4. Conclusion: Lessons Learnt/Recommendations 5. References 1. Executive Summary: National Australia Bank (NAB) is the largest business bank in Australia and the fourth largest retail bank (by total assets) with net operating profit of $A6728 million in 2011. However, due to already competitive trading environment, every major banking institution is beset by increasing pressure on their trading performance – and NAB is no exception. NAB has responded to these challenges by increasing its proprietary trading positions within the Corporate & Investment Banking division, which was in contrary to the customer-focused strategy. The traders engaged in large unauthroised transactions with minimal supervision, which turned into fraud and significant trading loss due to volatile market conditions. However, the integrity of the traders was not the sole cause that led to the $360 million loss. Along with NAB’s unreliable internal risk and control framework and an inappropriate level of governance, the traders exploited the loopholes within NAB’s operations and created fictitious transactions. These were not discovered immediately due to the lack of oversight from the senior management and a complacent corporate culture. The findings and analysis outlined in this case study report addressed the major risk management issues ASB Trading Enterprise needs to learn from the NAB foreign exchange...
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...FINS3630 Group Project: Bank Performance and Risk Exposure Evaluation Executive Summary This report will aim to highlight the profitability of National Australia Bank (NAB) and Westpac in terms of Return on Equity (ROE) between 2003 and 2007. Using a Dupont analysis, ROE will be decomposed into Return on Assets (ROA) and the Equity Multiplier (EM). Additionally, it will further look at the various risk exposures that these banks may face such as credit risk, liquidity risk, capital risk and operational risk. Furthermore, this report will also compare the performance and risk exposures between the two banks over the past 5 years. Westpac’s Bank Performance Analysis ROE Figure 1 - ROE 25.00% 21.98% 20.00% ROE 15.00% 10.00% 5.00% 0.00% 2003 2004 15.65% 17.02% 17.97% ROE 20.11% nt 2005 2006 2007 Th ink sw Figure 1 summarizes Westpac’s Return on Equity (ROE) from 2003 through to 2007, which is one of the key determinants of profitability. Generally, one can observe an upward trend in value throughout the past 5 years, starting at 15.65% in 2003 and finishing at 21.98% in 2007. Furthermore, ROE has increased by a total of 6.33% over the last 5 years, averaging 1.5825% per year. From a shareholder’s perspective, it can be viewed that Westpac has performed consistently well and has been more profitable throughout the specified period. In order to further analyze Westpac’s increasing trend in terms of its ROE, it is essential to conduct a Du Pont analysis that...
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...and the interest income ratio are highly similar as shows on the graph. As we can see on the interest income ratio graph, the interest income ratio was drop rapidly during the 2008 to 2009 then make a few recover on 2011 and the trend of ANZ and NAB are similar. The reason of the fast decreasing on the interest income ratio may be the global economic crisis during 2008. The global economic crisis pull the hold financial industry down and it also affect the interest income of those two banks. The bank’s interest income is also strong relate to interest rate. Graph ?(ausi interest rate) and ? (interest income ratio)shows a similar performance between the interest rate of Australian and the interest income during the 2008 to 2012. The trend of income interest ratio is following the step the trend the interest rate of Australian. In addition, both ANZ and NAB perform following the economic performing which is the reason why the NAB and ANZ asset utilization graph similar. According to the graph of interest income ratio, we know that ANZ is performing more efficiently than the Nab in last 5 years. However, the interest income is NAB is more than ANZ as show in Graph ?(interest income) .Therefore the reason of ANZ have higher efficiency is NAB holding much more asset than ANZ....
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...company. ANZ’s mission communicates a similar message. This notion of the importance of customers is not communicated as directly in NAB’s mission, which alternatively provides a level of insight into the competitiveness and ambition that drives NAB to achieve an improved market positioning. Furthermore, Westpac’s vision communicates a similar level of customer importance that is reflected in its mission statement. This is again unlike NAB’s vision, which fails to communicate the importance of customers and alternatively focuses on the business’s quantitative objectives. ANZ’s vision reflects elements of Westpac’s and NAB’s visions by emphasising the importance of customers as well as its international business interests. Furthermore, NAB and ANZ’s company values emphasise the importance of ethical behaviour in all areas of the business; however, Westpac does not touch on this notion. Also, ANZ and Westpac both highlight the underlying concept of a collaborative approach to work, i.e. working as one team. In addition to this, all three company values communicate the importance of treating customers with respect. However, only NAB and Westpac offer an insight into the competitiveness and ambition that drives them to meet objectives. NAB refers to this as a “will to win” (National Australia Bank 2012) and similarly Westpac refers to it as a sense of “achievement” (Westpac Banking Corporation...
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...dan Maybank Trustees Berhad sebagai pemegang amanah. Objektif pelaburan adalah untuk meyediakan pulangan jangkamasa sederhana dan jangkamasa panjang melalui peningkatan modal dan pengagihan pendapatan. Polisi dan strategi pelaburan adalah untuk memnuhi objektif pelaburan.Disamping memberi tumpuan kepada pelaburan ekuiti(sehingga 98% NAB Dana) Pelaburan ini disediakan untuk umur sekitar 18 hingga 30 tahun dan: I. Ingin memperoleh peningkatan modal dalam jangka masa sederhana hingga jangka masa panjang. II. Mempunyai tolenrasi risiko yang tinggi. III. Mempunyai minat terhadap pelaburan jangkamasa panjang. Risiko pelabur adalah tinggi. Polisi agihan adalah membayar agihan pendapatan tahunan kepada Pemegang Unit sekiranya pendapatan pelaburan sepanjang tahun terkumpul adalah mencukupi. Pelaburan permulaan minima adalah RM 500.00 dan pelaburan tambahan minima RM 100. Pelabur boleh memilih pelaburan sekaligus atau simpanan berkala. Pemegang minima adalah 100 Unit. Caj Jualan a) Pelaburan terus melalui Pengurus (5% daripada NAB seunit) b) Melalui Agen yang Dibenarkan(5% daripada NAB seunit) c) Malalui IUTA(5% daripada NAB seunit) Yuran Pindahan:RM 3.00 bagi setiap pindahan Caj Pertukaran a) Kali Pertama:Tiada b) Kali Kedua:RM 25.00 per transaksi dan dikecuali untuk pelabur melebihi RM 100,000 dan keatas BIMB Invest. BIMB I Divident Pelaburan ini diurus oleh BIMB Investment Management Berhad dikategori dibawah Ekuiti/Dana Pendapatan dan Pertumbuhan...
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...parties, adding value to customers by deepening their customer experience”. Lockyer (2003) agrees that smart sponsors capitalize on the opportunity to make an emotional connection with consumers, and to tie sponsorships directly for achieving corporate goals. According to the reasons above, there is a superior sponsorship opportunity for the National Australia Bank Group (NAB) to achieve corporate goals and strategies. The opportunity is to be the major sponsor of the Australian Poker League (APL) 2007/08 season. NAB Background Overview The National Australia Bank Group (NAB) is an international financial services organisation that provides a comprehensive and integrated range of financial products and services (NABGroup.com, nd: a). The NAB’s corporate purpose is to generate sustainable satisfactory returns to shareholders. The strategies are focused on the turnaround of the Group and building new avenues for growth (NABGroup.com, nd: b). By comparing Appendix One and Two, the benefits of the APL sponsorship opportunity fully fit in with NAB’s mandatory requirements and general criteria. By sponsoring APL, NAB would be the first bank in Australia to associate with the APL. With the appropriate marketing plans, the first-mover advantage is unpredictably huge and going to be a great help for the corporate goals and strategies, which are “new avenues for growth” (NABGroup.com, nd: b). APL Sponsorship Opportunity Identify In relation to Appendix Two, “the Australian Poker...
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...CASE STUDY 8.1 PG 287 Disclosure of environmental liability By Lindene Patton C.I.H, Senior Vice President and Counsel, Zurich Around the world, companies are being required to meet higher levels of disclosure of environmental liability … in the United States, for example, the US Financial Accounting Standard Boards (FASB) issued provisions in 2002 for accounting for environmental liabilities on assets being retired from service. The provision for accounting for assets retirement obligations required companies to reserve environmental liabilities related to the eventual retirement of an assets if its fair market value could be reasonable estimated. The intent of the ruling was disclosure, but the conditional nature of estimating of fair market value caused corporations to take the position that they could defer their liability indefinitely by ‘mothballing’ a contaminated property. Companies effectively postponed the recognition of the environmental liabilities in the absence of pending or anticipated litigation. Earlier this year, FASB clarified its intention by providing an interpretation that said companies have a legal obligation to reserve for environmental and other liabilities associated with the eventual retirement of manufacturing facilities of parts of facilities, even when the timing or method of settlement in uncertain. Among examples given by FASB: * An asbestos-contaminated factory can not simply by ‘mothballd’ without adequate reserves to cover the eventual...
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...Australia Bank (NAB) was the largest financial institution listed on the Australian Stock Exchange and was within the 30 most profitable financial service organizations in the world with total assets of more than AUD459 billion. However, there had been significant media exposure of the NAB losses incurred in the HomeSide loan debacle (losses of over AUD4.1 billion) in 2001. The announcement of the debacle led to a dramatic and significant on the ASX with NAB’s ordinary share price falling 33%. A foreign exchange scandal arose in October 2003. Four traders took part in fictitious trades in order to protect their performance bonuses. It finally caused losses of AUD360 million in 2004. The announcement of the scandals caused NAB share price to fall 19%. Once the scandal became public in January 2004, NAB appointed PwC to investigate the irregular trading of foreign currency options. A Board member, Cathy Walter began rising concerns about the independence and probity of the PwC investigation. The independence of the PwC investigation was compromised as they already had a close and extensive relationship with the NAB board and it likely to cause a number of potential conflicts of interest. There were other issues of concern for Walter: first is the inappropriateness of appointing Graham Kraehe to be the chairman of board and the internal risk committee. Second is inappropriateness of charging the committee to oversee the PwC investigation. Unfortunately, the NAB Board directors...
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...Induction Program For New Faculty members at BITS-Pilani Project report submitted in partial fulfillment of the requirement for the award of degree of MASTER OF BUSINESS APPLICATION Collaboration program with BITS, Pilani BY Shreyash Pandey (2014H149260P) Prateek Goel (2014H149259P) Bhumica (2014H149269P) Mohammad Mushir khan (2014H149250P) Swati Panjwani (2014H149266P) Under the guidance of Dr. R. Raghunathan 07/11/2014 Table of Contents AREAS TO BE COVERED IN THE INDUCTION PROGRAM .......................................................... 1 ORIENTATION PLAN .............................................................................................................................. 2 SCHEDULE AND IMPLEMENTATION DETAILS ............................................................................. 4 CHECKLISTS .............................................................................................................................................. 9 1) 2) 3) Procedure and policy Checklist......................................................................................................... 9 Document checklist ........................................................................................................................... 9 Facilities Checklist ............................................................................................................................ 9 COST INCURRED ........................................................
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...The IMF at a Glance 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. The IMF’s responsibilities: The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with one other. This system is essential for promoting sustainable economic growth, increasing living standards, and reducing poverty. Following the recent global crisis, the Fund has been clarifying and updating its mandate to cover the full range of macroeconomic and financial sector issues that bear on global stability Fast Facts on the IMF * Membership: 187 countries * Headquarters: Washington, D.C. * Executive Board: 24 Directors representing countries or groups of countries * Staff: Approximately 2,470 from 141 countries * Total quotas: US$383 billion (as of 8/18/11) * Additional pledged or committed resources: US$600 billion * Loans committed (as of 8/18/11): US$282 billion, of which US$213 billion have not been drawn (see table) * Biggest borrowers (amount agreed as of 8/18/11): Greece, Portugal...
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...BUS 599 Complete Course BUS599 Complete Course Click Link for the Answer: http://workbank247.com/q/bus-599-complete-course-bus599-complete-course/21454 http://workbank247.com/q/bus-599-complete-course-bus599-complete-course/21454 BUS 599 Week 1 Discussion "Company Description" Throughout this course, you will develop a series of written papers / projects that you will later combine into a complete business plan for a Non-Alcoholic Beverage company. For this discussion, you must first review the “NAB Company Portfolio”. The mentioned portfolio contains the company parameters and details you must follow when developing your company. Provide the following information to set the foundation for your non-alcoholic beverage (NAB) business plan. Please respond to the following: * Create your NAB company name and explain its significance. * Develop your company’s Mission Statement and provide a rationale for its components. BUS 599 Week 2 Discussion "Growing Honest Tea" Please respond to the following: * Review the following documents: * Honest Tea’s business plan for 1999 (PDF). * A strengths, weaknesses, opportunities, and threats (SWOT) analysis based on Honest Teas’ business plan (PDF). * Suppose Honest Tea has hired you as a consultant to evaluate the completeness of their strategy for future growth. Base your evaluation on the provided SWOT analysis. Provide a rationale for your response. BUS 599 Week 3 Discussion "Don't Miss the Mark" Please respond...
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...BUS 599 Complete Course BUS599 Complete Course Click Link for the Answer: http://workbank247.com/q/bus-599-complete-course-bus599-complete-course/21454 http://workbank247.com/q/bus-599-complete-course-bus599-complete-course/21454 BUS 599 Week 1 Discussion "Company Description" Throughout this course, you will develop a series of written papers / projects that you will later combine into a complete business plan for a Non-Alcoholic Beverage company. For this discussion, you must first review the “NAB Company Portfolio”. The mentioned portfolio contains the company parameters and details you must follow when developing your company. Provide the following information to set the foundation for your non-alcoholic beverage (NAB) business plan. Please respond to the following: * Create your NAB company name and explain its significance. * Develop your company’s Mission Statement and provide a rationale for its components. BUS 599 Week 2 Discussion "Growing Honest Tea" Please respond to the following: * Review the following documents: * Honest Tea’s business plan for 1999 (PDF). * A strengths, weaknesses, opportunities, and threats (SWOT) analysis based on Honest Teas’ business plan (PDF). * Suppose Honest Tea has hired you as a consultant to evaluate the completeness of their strategy for future growth. Base your evaluation on the provided SWOT analysis. Provide a rationale for your response. BUS 599 Week 3 Discussion "Don't Miss the Mark" Please respond...
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