...ANSWER Training is a learning process that involves the acquisition of knowledge, sharpening of skills, concepts, capabilities, rules, or changing of attitudes and behaviors to enhance the performance of employees and to aid in the achievement of organizational goals. Training is activity leading to skilled behavior. Strategic Imperative is an initiative, key project, or major objective that is high leverage and systemic (strategic) and a must-do (imperative) over the next 6 – 12 months to significantly move a team or organization toward its vision, values, purpose and desired culture. A key component of providing focuses to an organization calls for a leader is to identify "strategic imperatives" or "must-do." These are the team or organization's critical leverage points. Once the teams are set and their mandate or charter agreed to by the larger executive or steering team overseeing this work, each Strategic Imperative Team then develops and manages development of a detailed implementation plan and execution Most company executives decide to spend money on training especially when economic times are good. There is a view that it is good, and it is also something that responsible leaders are supposed to do to prepare for the future. Unfortunately, training becomes the first activity to be cut when times get tough. There is also no objective measure that calculates the business case of return on investment for training. Actually, training, education and coaching should be...
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...Institutional Financing of SME in Bangladesh [pic] [pic] TERM PAPER ON Institutional Financing of SME in Bangladesh Submitted By: ID- Program- BBA Premier University, Chittagong Submitted in partial fulfillment of the requirements for the Bachelor of Business Administration. Submitted To: Ms. Nilufar Sultana Lecturer, Dept. of Finance & Banking, Faculty of Business Studies, Premier University, Chittagong. DATE OF SUBMISSION: /09/2012 Letter of Transmittal Date: To Ms. Nilufar Sultana Faculty of Business Studies Premier University, Chittagong Sub: Letter of Transmitter on Term Paper Dear Madam, This is my pleasure to submit my term paper report on “Institutional financing of SME in Bangladesh” which I was assigned. It was a great opportunity for me to acquire knowledge and experience in respect of the functions, procedures and operational activity, other than my topic of study. I have concentrated my best efforts to achieve the objectives of the assignment study and hope my endeavor will serve the purpose. However, I will always be ready to provide any further clarification that you may require. Sincerely Yours, ID# Program: BBA Batch Number: 16 8th Semester Section: Major:...
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...GUIDE FOR EXPORTING SMEs EXPORT IMPACT FOR GOOD © International Trade Centre 2009 The International Trade Centre (ITC) is the joint agency of the World Trade Organization and the United Nations. Street address: ITC, 54-56, rue de Montbrillant, 1202 Geneva, Switzerland ITC, Palais des Nations, 1211 Geneva 10, Switzerland +41-22 730 0111 +41-22 733 4439 itcreg@intracen.org http://www.intracen.org Postal address: Telephone: Fax: E-mail: Internet: HOW TO ACCESS TRADE FINANCE A GUIDE FOR EXPORTING SMEs Geneva 2009 ii ABSTRACT FOR TRADE INFORMATION SERVICES 2009 F-04.03 HOW INTERNATIONAL TRADE CENTRE (ITC) How to Access Trade Finance: A guide for exporting SMEs Geneva: ITC, 2009. x, 135 p. Guide dealing with the processes involved in obtaining finance for exporting SMEs – explains the credit process of financial institutions from pre-application to loan repayment; examines the SME sector and barriers to finance, as well as the risks in lending to the SME sector as perceived by financial institutions; addresses SMEs’ internal assessment of financial needs, determining the right financing instruments, and finding the appropriate lenders and service providers; discusses how to approach and negotiate with banks; tackles cash flow and risk management issues; includes examples of real-life business plans and loan requests; includes bibliography (p. 134). Descriptors: Trade Financing, Export Financing, Export Credit, Risk Management, SMEs, Manuals. English...
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...scarce capital, intensive technology, foreign exchange constraints, poor management, corruption and inadequate attention to economic viability and market prospects which has resulted in poor performance of the industries in terms of output and employment (Steel & Webster, 1992). Following an economic recession in the 1980’s which resulted in the retrenchment of workers from the civil service, the rationalization of production in the private sector under the Economic Recovery Programme (ERP) was launched in 1983, and the high population growth rate of 2.6% per annum, coupled with the inability of the medium and large scale enterprises to grow and expand over time to absorb the idle labour, the SMEs has become an important option and alternative source of employment. SMEs have been...
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...SME defined by SBP as an entity having less than 250 employees and Rs. 300 million revenues. SMEs account for a substantial part of the economy; there are about 3.2 million enterprises in Pakistan, of which about 3 million (93%) are SMEs. SMEs spread across the economy with varying density: see exhibit 1-A for the sector wise division of SME sector. According to a survey conducted by SMEDA, this sector contributes more than 30% to GDP and 25% to the country’s total export earnings, and employs close to 70% of the labor force in the manufacturing industry, services, and trade. Their share in manufacturing value addition is estimated to be around 35%. Small & medium businesses play a very critical role when economies are transiting from low to middle income levels yet Pakistan has paid less attention to the growth and development of this crucial pillar of economy. Our report mainly focuses on the financial constraint to growth of this sector. Capital requirements: According to SMEDA there’re 800,000 SMEs in Pakistan that are eligible for bank loans. Another 2.4 million potential businesses that can’t qualify for bank loans mainly rely on other sources of finance for their business needs. Approximately 89% of working capital and 75% of fixed investments are financed from retained earnings. (See exhibit 1-B) Remaining financing needs are fulfilled from external sources which include family and friends, bank loans and other small sources as depicted in exhibit 2-A. Despite the...
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...SME financing peaked to nearly Rs. 400 billion in 2008 to Rs. 319 billion in June 2010. The number of SME borrowers has come down significantly to 197,808 constituting only about 5.2% of the total number of the borrowers of the banking industry. Credit gap of Rs. 25 billion is causing various SME closures. Cumbersome procedure and delays: Even after providing collateral the loan approval takes well over 6 months. According to a survey conducted by SMEDA most of the SMEs are denied credit by rejecting their movable/immovable properties other than land as collateral. As small business owners in Pakistan are not well educated, they’re unable to meet the stringent standards of banks. Either SMEs don’t apply for bank loans at all, or if they do (10.7%) they’re more likely to be rejected (75%) as compared to large businesses due to absence of established structures. The cost of credit financing: For SMEs access to risk-sharing credit is also difficult because of high costs. The interest rate spread of banks increased from 3% during 1990’s to 8% by the turn of the new millennium. According to a study conducted by ADB, lease financing represents up to 25% of total fixed investment. The cost of funds for leasing companies averaged approximately 18% per annum which is much higher than for banking sector. The report issued by ADB also identifies the difficulties in obtaining export finance as banks require export letters of credit. SMEs being mostly indirect exporters can’t...
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...CHAPTER - 1 INTRODUCTION 1.1 INTRODUCTION TO SMEs Small and Medium Enterprises (SMEs) have played a significant role world over in the economic development of various countries. Over a period of time, it has been proved that SMEs are dynamic, innovative and most importantly, the employer of first resort to millions of people in the country. The sector is a breeding ground for entrepreneurship. The importance of SME sector is well-recognized world over owing to its significant contribution in achieving various socio-economic objectives, such as employment generation, contribution to national output and exports, fostering new entrepreneurship and to provide depth to the industrial base of the economy. Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialized countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country. They are responsible for between 60-70% net job creations in Developing countries. Small businesses are particularly important for bringing innovative products or techniques to the market. Microsoft may be a software giant today, but it started off in typical SME fashion, as a dream developed by a young student with the help of family and friends. Only when Bill Gates and his...
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...SME Financing in Bangladesh: Problems and Prospects SME Financing in Bangladesh: Problems and Prospects Prepared for Arafat Rahman Assistant Professor Institute of Business Administration Jahangirnagar University Prepared by Tanjila Sharmin 201301029 Md. Mourshed Uddin 201303006 Naim Ahmad 201403020 Sayeed Ishtiaque Ahmed 201403027 Md. Sazzad Hossain 201403034 Course Participant BUS 501: Managerial Communication (Section-02) WMBA Program Institute of Business Administration Jahangirnagar University December 20, 2014 Letter of authorization November 23, 2014 Course Participant BUS 501: Managerial Communication The purpose of this report is to familiarize you with the basic techniques and principles associated with writing a formal business report so that you can build and enhance this specific written communication skill. This formal report will be coordinated with a formal presentation session on the topic of the report. At a minimum, your report should include information related to the following issues: Introduction to the Industry/Sector/Area – What is the industry/sector/Area? What is the background of the industry/sector/Area in Bangladesh? Who are the major participants? You may show how the industry/sector/area is contributing to the economic development of the country. In this case, you must use industry-related data for the past three years (at least). In case of export-oriented industries...
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...International Journal of Business and Management Tomorrow Vol. 2 No. 7 Scope and Strategies in Financing of SMEs by Banks Onkar Chand Rana, Asst. Professor, Sri Sai University, Palampur, H.P. Professor K. Ravi Sankar, IGNOU, New Delhi Abstract Scope and Strategies in Financing of Small and Medium Enterprises by Banks- a case study of State Bank of India at Pathankot, was conducted with a view to examine the problems of SMEs of Pathankot area, examine the scope of further financing SMEs by Banks in Pathankot area and devise requisite strategies for financing of SMEs by Banks in Pathankot area and thereby increase their SME loans portfolio which would help the banks and ultimately the country to achieve the projections as per Indian vision 2020- a document by the Planning Commission according to which the Industry share in GDP which is 26% at present is projected at 34% and the service sector share which is at present 46%, is projected at 60% by the year 2020. On the analysis of the secondary data, which was obtained from Banks Performa Reports, Annual Returns and Annual Credit Plans, it was observed that huge scope exists for the banks in Pathankot centre for intensive financing of SMEs which is observed from the data that at present CD Ratio at the centre is 58.71% (below the prescribed national average of minimum 60%) and the share of SMEs to total advances being 31.58%, which need to be increased to at least 50%. The primary study was conducted on the basis of random...
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...definition of Small and Medium Enterprises (SMEs). Some define them in terms of their total revenue, while others use the number of employees as an indicator. The European Union defines a medium-sized enterprise as one with a headcount of 250, a small firm as one with a headcount of less than 50 and a microenterprise as one with a maximum of 10 employees. The National Board for Small Scale Industries (NBSSI) which is the regulatory body for SMEs in Ghana defines SMEs in terms of both fixed asset and number of employees. It defines an SME as an enterprise with turnover greater than US$200,000 and not more than US$5 million equivalent (NBSSI) The SME market constitutes the vast majority of businesses in Ghana and over the years has evolved to become the key supplier and service provider to large corporations, including multinational and transnational corporations. Principally, SME’s has contributed to: Expanding output; Providing value-added activities in the manufacturing sector; Creating employment opportunities especially in the services sector; Contributing to broadening Ghana‟s export base; Increased competition; Innovation; SMEs are important to almost all economies in the world, especially to those in developing countries. They contribute to productivity and job creation; they serve as a nursery for larger firms constituting the next step for micro enterprises (Palma and Gabriel, 2005). In addition, SMEs tend to be the primary driver for job creation...
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... A case can be made that that the English foreign policy was a failure because of Wolsey’s mishandlings of the finance. For example in source 1 it states that ‘greatest weakness lay in the realm of finance’. This shows us that Wolsey did not know what he was doing when it came to finance which would have helped English foreign policy. Wolsey mishandling of finance would have led to less to money to help Henry invade France and therefore make on this part of his foreign policy, which was to take over France and to redeem his title as king of France , a failure because he didn’t really take over the whole off France. The whole real parts that henry had taken over of France was Tournai and Therouanne, and these were of little significant to England which supports the idea that the foreign policy was a failure. We can also infer from another source which support the idea that English foreign policy was a failure. In source 3 it says ‘if he fortunate to win it’. This is referring to Henry to taking over France, and we can clearly see that the foreign policy was a failure because only luck could have helped Henry take over France. This all indicates that foreign policy was not a success owing it to Wolsey mishandling of finance which meant that Henry would not have sufficient amount of money to take over the whole of France. Once again in source 1 we can see that Wolsey had mishandled finance which led to the failure of the English foreign policy. It states in source one that Wolsey...
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...In the provided scenario, executive “A” exhibits level 5 leadership skills. The individuals’ strong personality and drive for success is directed specifically on the company. A level-5 leader is someone who easily praises other employees and factors, rather than themselves for the success of a company. They also promptly assume responsibility for employee shortcomings and failures. This kind of leader conducts business quietly and believes in inspired standards rather than a charismatic approach. They strive to produce the very best results. In this case, executive A’s efforts yielded a significant raise in company stock. Leader “B” exhibits the transactional leadership style. “B” believes that employees should be solely responsible for their work and actions while taking full responsibility for any down falls. At the same time, “B” believes employees should be rewarded when they yield success within their projects. Leader “B” is just as passionate as executive “A “and believes in the same ideas and long term goals. But leader “B” has a more of a “cut and dry” leadership concept, as “B” strictly believes in following the rules set forth by the company, making sure that subordinates do not deviate. Leader “C” exhibits the transformational leadership style. “C” believes in inspiring subordinates to aim high and achieve goals. “C” not only believes in executive “A’s” values and ideas, but also believes in being personal with the employees around him. ”C” believes in engaging...
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...Mental toughness is probably one of the most used but least understood terms used in applied sports. Athlete’s mental toughness is more important as their physical strength .Before you get to the competition stage first you must require having a mental toughness in you. When it’s time to compete and prove your physical and sports ability to yourself and to others with an audience present, stress and anxiety can often get in the way. Examples when taking a shot and missing in basketball or dropping a pass in football, you might feel failed or that you let your team down or maybe your friends watching, sometimes you feel as though you’re not good enough. People don’t realize that all humans make mistakes. Acknowledging that no one is perfect and that all you can do is put in your best effort knowing you failed won’t be a thought in your mind. Mental toughness in your performance also involves in tuning out on others opinions not letting words or bad habits from others get to you. Mental toughness is a competitive sport, competing against other athletes, or against a personal rival can be stressful sometimes before going into the game. It can cause anxiety to many athletes. Mental toughness is often needed to overcome any stress and anxiety to succeed. At all levels of competition, the athletes and teams that usually successful all have on characteristic in common, and that is mental toughness. An individual who is an average athlete and has mental toughness will be more successful...
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...In this book and play “The Death of a Salesman”, The main character Willy Loman, is having problems getting and holding onto a job. His whole life has always been a failure and still is proceeding as one. As this story proceeds, Willy is having some inside thoughts about life, and how things are going when it is not really happening at all, it is just all in his head. In the story “The Death of a Salesman”, I do think that the characters are very believable. They all have a personality like no one would think of. They all have very unique characteristics like: stealing, lying, going crazy, and always being miserable. I can relate to all of the characters. There are times when I think that I am in real life, but then snap out of it and come back to reality. Like Willy Loman, I also have tendencies to fail on a daily bases, and to not do my best because of what might have happened earlier in the day. Also, unlike Willy Loman, I do not go crazy, or think up some outrageous thoughts that I always believe to be real. I do fail on a daily basis on things, but as well as Willy, I do not end up failing at jobs or little interviews for small jobs. I do stay sane and get what I need done, unlike Willy Loman, he ends up not realizing things, or he forgets a lot, or he just cannot get down how to do things right. The story “The Death of a Salesman”, is a story that has many feelings and emotion, and I do think that we all could relate this story and play to all of our lives, because...
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...ENGINE FAILURE! As pilots we dread them, however, with proper training, understanding, and skill, we can greatly increase our chances of survival if we ever experience one. As a FAA Designated Pilot Examiner, I often witness checkrides that expose possible errors or misunderstandings in our General Aviation flight training. More often than not, the simulated engine failure to an off field landing is an area in which most applicants could benefit from additional training. In addition, the accident statistics show engine failures are a very real possibility that most pilots need to continually think about and prepare for long after the checkride is over. This article specifically addresses only failures in single engine aircraft. To correctly train for an engine failure, CFI’s and students both must accept that engine failures DO occur, and when one does occur, a positive, safe outcome is dependent upon proper, realistic training. What is often seen is an applicant that has memorized the engine failure checklist, and can quote it verbatim, but does not adhere to the items in the checklist, starting with the most fundamental item: Establish and maintain best glide speed. Most applicants quote a mantra, and SAY “establish best glide speed”, but in many cases the aircraft is not FLOWN at best glide speed. This is typically because the engine failure is simulated while flying at cruise speed. For example...
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