The UK Government is Right to Listen to Claims that Large Banks should Essay

The UK Government is Right to Listen to Claims that Large Banks should be Broken up - Essay Example From this study it is clear that  the impediment is that every niche of this argument is based on a myth. The first misleading notion is that the materialization of huge, universal banks- uniting investment banking with commercial banking- was an unnatural or artificial development. This disjointed market means that banks could not accomplish the economies of scale or simply supply clients on a global or national level. The market needs stimulated the consolidation and gave birth to an evolution towards greater competency in the banking sector.This paper stresses that  a second erroneous belief is that these universal, large institutions were primarily to give guilt for financial crisis. As most grave observers recognize, an amalgamation of risk management and bad lending by poor regulation, bank management and poor-advised consumer performance all played a role. A third misleading notion is that huge financial institutions have become too intricate to supervise. A firm of any si ze needs strong management and control to supervise complication. In reality, big global institutions have frequently proved more elastic than others because their expansion in business model makes sure that loss in one department of enterprise can be stifled by revenues in other departments of the organization. In some instances, intricacy can be a remedy to risk, instead of a reason of it.  The opponents of huge banks that are seldom aired similar to they don’t qualify for examination.... Critics point to the excessive influence huge banks mostly has on the political procedures. They panic that those regulators are intimidated by a big bank’s power and position. These opponents appear to consider that regulators are not capable of coming up with independent verdicts. In the practical world, this instance is not true. That supposed, it is genuinely right and mandatory for politicians and regulators to employ with industry and experts practitioners to be trained about these issues. These regulators are not browbeaten, but they usually do require more capability and improved cooperation with each other to take on the tasks lucratively (Duffie 2011). Another condemnation is that huge banks receive large, implied subsidies from government and can borrow money more reasonably because they are considered to ‘too big to fail’. But the facts don’t stay out. Big banks invest billions of dollars to bring services and products want, investments that a f irm has accomplished scale can make. The scale permits them to carry, like huge-box stores, more invention, more consistent and convenience, dependent service (Wilson 2012). Breaching the huge banks would damage their clients, customers, and the economy as a well. In actuality, it would insert novel risks into the financial arena. If the globalized, multifunctional, universal banks are obligated back into dedicated lending firs, they will require figuring out novel ways to give the returns to shareholders. This could easily lead the way to an augmentation in risk lending. Most of the banks in United Kingdom function all over the globe and have to function with international banks. If they are not able to work with banks in UK, they will then work with banks based

Economic Concern in Pride and Prejudice Essay Example for Free

Economic Concern in Pride and Prejudice Essay Jane Austens Pride and Prejudice had a long and varied life before it finally saw publication on January 28, 1813. Austen began the book, originally titled First Impressions, in 1796. Economic concerns are all over the place in this novel. One of the things that Austen does so well is to poke fun of the whole social class mentality of England during that time. In the novel, the social and economic classes are drawn very clearly. For example, the Bennets are middle class and they are made to know it by their economic and social superiors the Bingleys and Darcys. There is a sense of entitlement among the wealth and a sense of subservience among the others. One of the clearest examples of this dynamic based on social class is Mr. Collins who acts like a slave to his cultural superiors, like Lady Catherine de Brourgh. Finally, what makes the story so great is that this tension is teased out until love wins. The marriage between Elizabeth and Darcy is the resolution, but for this to happen Darcy has to overcome his pride and Elizabeth her prejudice. Both are rooted in class consciousness. In Pride and Prejudice, there are many characters who do not have financial concerns, such as Mr. Darcy, Lady Catherine de Bourgh and Mr. Bingley. Therefore I will restrict myself to talking about the Bennet family, and in particular, Mrs. Bennet, in this response. Key to focus on is the way that, at least in part, it is economic reasons that are behind Mrs. Bennets frantic attempts to marry off as many of her daughters as possible. Note what we are told in the first paragraph of Chapter Seven about the brute realities of the existence of the Bennet girls: Mr.  Bennets property consisted almost entirely in an estate of two thousand a year, which , unfortunately for his daughters, was entailed in default of heirs male, on a distant relation; and their mothers fortune, though ample for her situation in life, could but ill supply the deficiency of his. Her father had been an attorney in Meryton, and had left her four thousand pounds. The exact details that we are given clearly indicate how important money is. The way in which the property of Longbourne is entailed away from the female line adds new understanding to Mrs. Bennets determination that Lizzie should mary Mr. Collins, no matter what her personal feelings are, as it would effectively provide for Mrs. Bennet and the rest of the sisters after the event of Mr. Bennet. Later comments made by Mrs. Bennet about the Mr. Collins and Charlotte turning them out onto the street when Mr. Bennet dies, although are clearly exaggerated, nonetheless accurately reflect the uncertain future of this family unless they can marry off some of their daughters well to provide for the rest. Economic forces are therefore shown to bear massively on the fortunes of this family.

Organization resource management

Organization resource management ‘The organization resource management may be defined as the composition of people and tools in any organisation for the attainment of the organisational goals. The organisation resource management in star bucks company has achieved greater heights by planning, organising and controlling the resources available within the organisation to achieve its goals. Starbucks is one of the best known and fastest growing companies in the world. Set up in 1971, in Seattle, the company grew slowly initially, but expanded rapidly in the late 1980s and the 1990s. By the early 2000s, the number of outlets reached to about 3000 from 9000 outlets . It was widely believed that the companys success and rapid growth could be attributed largely to its committed and motivated workforce. This ensured that employees remained motivated, and Starbucks had a relatively low employee turnover However, in the early 2000s, the company faced the challenge of finding and retaining the right number and kind of employees to man its future growth. In January 2005, when Starbucks Coffee Company (Starbucks) was placed second among large companies in the Fortune Best Companies to Work For survey Despite the fact that employees, especially those on the frontline, are critical to the success of retail businesses, most companies do not have a strong relationship with their employees, and consequently suffer from a high rate of employee turnover (In the early 2000s, employee turnover in the retail industry was around 200 percent). In this scenario, Starbucks stood out for its employee-friendly policies and supportive work culture. The company was especially noted for the extension of its benefits program to part-time workers something that not many other companies offered. As a result, Starbucks employees were among the most productive in the industry and the company had a relatively low employee turnover. However, by the early 2000s, three possible problems had to be considered would the company be able to support its staff with the same level of benefits in the future, given the large increase in the number of employees; would the company be able to retain employees if it made any move to lower its human resource costs by cutting down on benefits; and would Starbucks be able to maintain its small company culture, an important element in its past growth. Starbucks realized early on that motivated and committed human resources were the key to the success of a retail business. Therefore the company took great care in selecting the right kind of people and made an effort to retain them. Starbucks recruitment motto was To have the right people hiring the right people. Starbucks hired people for qualities like adaptability, dependability and the ability to work in a team. The company often stated the qualities that it looked for in employees upfront in its job postings, which allowed prospective employees to self-select themselves to a certain extent. Having selected the right kind of people, Starbucks invested in training them in the skills they would require to perform their jobs efficiently. Starbucks was one of the few retail companies to invest considerably in employee training and provide comprehensive training to all classes of employees, including part-timers Analysts said that Starbucks biggest challenge in the early 2000s would be to ensure that the companys image as a positive employer survived its rapid expansion program, and to find the right kind of people in the right numbers to support these expansion plans. Considering the rate at which the company was expanding, analysts wondered whether Starbucks would be able to retain its spirit even when it doubled or tripled its size. By the early 2000s, the company began to show signs that its generous policies and high human resource costs were reflecting on its financial strength. Although the company did not reveal the amount it spent on employees, it said that it spent more on them than it did on advertising, which stood at $68.3 million in fiscal 2004. That the company was finding its human resource costs burdensome was reflected in the fact that it effected an increase of 11 cents on its beverage prices in mid-2004. Analysts wondered whether the companys cost problems could be met by a price increase, as customers already paid a premium for Starbucks beverages. On the other hand, it would not be easy for the company to cut down on benefits, as it could result in a major morale problem within the company. A strategic HR plan lays out the steps that an organization will take to ensure that it has the right number of employees with the right skills in the right places at the right times. HR managers begin by analyzing the companys mission, objectives, and strategies. Starbucks objectives, for example, include the desire to â€Å"develop enthusiastically satisfied customers† as well as to foster an environment in which employees treat both customers and each other with respect. Thus, the firms HR managers look for people who are â€Å"adaptable, self-motivated, passionate, creative team members Job Analysis To develop an HR plan, HR managers must obviously be knowledgeable about the jobs that the organization needs performed. They organize information about a given job by performing a job analysis job analysis Identification of the tasks, responsibilities, and skills of a job, as well as the knowledge and abilities needed to perform it. to identify the tasks, responsibilities, and skills that it entails, as well as the knowledge and abilities needed to perform it. Managers also use the information collected for the job analysis to prepare two documents: †¢A job description job description Outline of the duties and responsibilities of a position., which lists the duties and responsibilities of a position †¢A job specificationjob specificationDetailed list of the qualifications needed to perform a job, including required skills, knowledge, and abilities., which lists the qualifications—skills, knowledge, and abilities—needed to perform the job Training Regular training to the stuff was the most important key to the success of the company the employees were on a regular knowledge of the latest equipments used in the company. The company spends loads of sum on training of employees. This Mkes the employees more efficient and effective in their tasks. Advantages of training Staff become more competent at their jobs Staff become moer flexible Staff motivation increases Increased productivity Changes become easier to introduce Fewer accidents The organisations image improves eg when dealing with customers Reduced waste Disadvantages of training Once fully trained, staff may leave for better paid jobs Financial cost of training may be high Work time is lost when staff are being trained Quality of training must be high for it to have a positive effect

Society in Mary Shelleys Frankenstein and Thomas Mores Utopia :: comparison compare contrast essays

Society in Mary Shelley's Frankenstein and Thomas More's Utopia A primary problem with the society we live in today, is the need to be better. The desire to have more, to be worth more, and through these inanimate objects to be happy is what drive us all. As children we struggled to fit in by having nicer clothes and more expensive shoes than the next kid. Although, in a different from this is a sentiment echoed in Sir Thomas More's "Utopia." By analyzing his work, I will shed some light on how this is very similar to a theme proposed in Mary Shelley's "Frankenstein." In Utopian society, we are shown that the way to fit in, to be cool is to be exactly the same as those around you. Those citizens who had aspirations of wealth and a better life, were treated the same as those who simply can not afford to 'fit in' in our society. They were the shunned, the public outcasts. These people had necessarily done anything wrong, they just were unhappy with their way of life and had glimpsed something better. This mirrors the daemon in Shelley's "Frankenstein." Although he was an extremely well educated person, who aspired for nothing more than love and happiness, they would never be his to have. The sole reason the monster was abhorred by all that knew of him was his appearance. This singular feature was the reason he was beaten by Felix, and nearly killed by the man whose daughter he had saved from river. His only curse was ugliness, but was this his fault? It was easy for the daemon to curse his creator, the man who had formed him the way he was; in many ways I feel sympathy towards him. The sentences for being different in Utopia might not be considered by some to be as severe, but in many ways they were. For many crimes in their society you could be punished to a life of slavery, but this is not unlike Shelley. The daemon, while not punished by a court system, was punished by something much worse: himself.

South African Financial Industry

Non-traditional participants continue to aggressively explore revenue opportunities offered by the South African banking industry. The increased market threats, highly competitive and continually changing environment has led to Strategy& (2017) to refer to it as â€Å"a market place with no boundaries†. Figure 1 below, shows how the South African financial industry has progressed into the current state from just over a decade ago. The environment is characterised by intense competition, globalisation, heightened customer mobility and demand and deregulation (Bedeley, 2014; The Banking Association South Africa, 2014). Advancements of digital solutions has been the key enabler for the non-traditional participants to re-shape their value proposition and endeavour into the banking market. This has resulted in empowered global customers (Somal, 2017). To combat the increasing threats and outperform the new entrants, traditional banks continue to seek out digital transformational strategies (Bedeley, 2014; Somal, 2017; Strategy&, 2017). To South African traditional banks, the more threatening challenge is customer retention over attraction (Bedeley, 2014). They acquire vast customer data from the large market share evident in the second paragraph. This data continues to emerge at an alarming rate, due to increased market shared, increased customer base and innovation (Bedeley, 2014). The South African Banks have the opportunity to develop more customer centric strategies to respond to the wealth of data at hand. The key lies with translating this customer data into insight to enhance relationships with existing customers. Referred to, in the modern age, as data analysis. Data collection and analysis need to be a crucial part of business strategy (Somal, 2017). Data analysis depicts what has changed, and how to respond to it (McKinsey&Company, 2018; SAS, 2018). This implies the data capture, storage, processing and analysing strategies must make full use of the technologies available to take up the challenges born from the data surge (Bedeley, 2014). Harvesting data and looking for patterns and anomalies to provide insight lead to better business decision making and outcomes. This is not limited to, but includes, reduces operational costs, business risk analysis, reduced business uncertainty, consumer behavioural predictions, and guide smarter strategies to optimise current offerings or develop new ones (Bedeley, 2014; EY,2017; Stringfellow, 2014). Collecting and analysing customer data is not a new trend, the challenge is storing vast amounts of data, but, new technologies have relieved that liability (Forrester, 2018; TDWI, 2011). Organisations that adopt data analysis surpass their competition by 5% in productivity, and 6% in profitability (EY, 2017; Stringfellow, 2014). According to EY (2017), by 2020, each human being will generate 1.7 megabytes of new information per second. And, in the past two years, human beings have generated more information in the history of humankind. Effective internal and external knowledge management grants organisations the agility to detect opportunities and threats (e.g., reacting to new products or services of competitors); grasping possible opportunities (e.g., expanding into new markets), and staying afloat in a market whilst possessing competitive advantage (e.g., digital strategies to deliver efficient products or services) (Cà ´rte-Real, Oliveira & Ruivo, 2017; Bedeley, 2014; EY, 2017; McKinsey&Company, 2018).Understanding the South African MarketThis section aims to put into perspective the current market that South African banks serve. In 2017, 80.1% of South Africans lived in formal dwellings, 16.5% in informal dwellings, and 5.5% in traditional dwellings (StatsSA, 2017). According to a report by Standard Ba nk (as cited by BusinessTech, 2014), the poorest of the households in South Africa account for 62.3%, with members who earn a combined income of R7, 167 per month. Middle class households, earning from R86, 001 to R1.48 million per annum, account for 26.4%. Affluent households account for 0.4%, with an income of more than R2.36 million per year. The bank notes, only 5.5% of households possibly have the capability to save each month; Furthermore, the affluent households have a 65% saving capability each month of their income after-tax. The poor households contribute 11.2% to the country's income, the middle class contribute a total of 64.6%, whilst the affluent contributes 22.6%. This report highlights the severity of inequality in South Africa, whilst on the flip side highlights growth in the middle class (BusinessTech, 2016). Businesslive (2017) states, in the fourth quarter of 2016, there were 24.31-million credit consumers in South Africa, which is 8 million more than the employed South African population; Moreover, two out of every five credit-active consumers have an impaired record, which is 40% of the 24.31-million credit-active consumers; However, other debt including loan sharks debt were not included. In 2015, the World Bank report, declared South Africans as the world's largest debtors (Businesslive, 2017).?Costumer Satisfaction Index for the South African Banking IndustryIn the fourth quarter of 2017, Consulta released a Customer Satisfaction Index (SAcsi) for the South African banking industry. This satisfaction index is based on brands exceeding or falling short of customer expectations, and the respondents' idea of the ideal product to achieve an overall result out of 100 (Consulta, 2017). The report reveals the degree of satisfaction of South Africans with their banks. Survey participants included 13,099 bank customers across various segments selected at randomly (Consulta, 2017). The table below shows the year-on-year SAcsi scores for the South African traditional banks from the year 2017 till 2017. Absa shows a decline in the past three years, dropping from 74.8 in 2014 to 73.3 in 2017, resulting in obtaining the bottom position among the banks included in the benchmark. Standard bank previously held the last position, but, made a recovery with a substantial 3.3% increase in 2017 from the previous year. Nedbank suffered a 0.9% in 2017 from the previous year, 2016 77%, obtaining a 76.3% moving it to below the industry average of 77%. FNB obtained a 0.4% decrease in 2017 from the previous year, 2016 81.3%, but remains above the industry average. Capitec customers have remained the most satisfied for past five consecutive years. The 2017 Capitec score was 85.3%, 8.3% above the overall industry average.Gap Withing the South African Banking Industry Regarding Data AnalysisBanks are only using a portion of the customer data that is available to them to generate insight to optimise current offerings. The reasons for the low insight is silos and organisational structures, skills and talent gaps, data privacy, regulatory and legal framework or ethical issues and high costs associated to data analysis strategies (Somal, 2017). This prevents them from responding to changing customer needs; hence, leads to missed revenue opportunities. By prioritising data analysis to a key component to daily decision making, South African Banks can be equipped to integrate data from the different sources and develop solutions to better serve their customers, which will deliver noteworthy benefits (Strategy;, 2017). The outcome of this section suggests that with data analysis South African banks can provide business value by facilitating the acquisition of supply chain and marketing knowledge (Cà ´rte-Real et al., 2017). That translate to the right person offered the right product on the right device at the right time (Bedeley, 2014). Since banks have so much data available with the necessary analysing tools, they have a 50% chance of retaining a customer that is about to leave (Somal, 2017). Section three forms the fundamentals of the investigation of this paper. The section begins with the use of insight harnessed from customer data analysis to enhance customer experience by reviewing closely related literature; and then grants much needed detail on the data required for this resolution; how it will be collected from diverse sources to build better models and gain more actionable insights; improved to generate the right results and avoid making incorrect conclusions; and analysed for better decision making. The section concludes by presenting some key challenges and benefits of data analysis.

Choosing Your Religion and Political Beliefs †Literature Essay

Choosing Your Religion and Political Beliefs – Literature Essay Free Online Research Papers Choosing Your Religion and Political Beliefs Literature Essay Everyone knows that part of the idea behind the creation of an independent nation in the 1700’s was the opportunity for all people to make choices for themselves and to be whoever they wanted to be. Whether or not the idea turned out the way it was supposed to, is another question. However, the opportunity for people to make choices concerning religion, political beliefs and other important matters relies upon the idea that people are equipped to make these decisions, as well as other less substantial decisions everyday. Supposing that people have the ability to live as individuals, responsible for and living in the best possible way for themselves, assumes that people are capable of making good decisions, decisions benefiting themselves and those around them in the best possible way. The possibility of this ideal, the basis of the establishment of America, is explored and represented in a number of the works of the time, including Hannah Webster Foster’s The Coquette, and in Charles Brockden Brown’s Weiland and Arthur Mervyn. In the works, the authors represent individualism in different ways, but each seems to support the idea that it is impossible for any person to make every decision co rrectly for him or herself, and that to some extent, all need the help of others to make the choices which are best for themselves and the world around them. Foster presents the idea that women are unable to make good decisions for themselves in The Coquette. In The Coquette, Eliza is always appealing to her family and friends for help in making her decisions regarding her two suitors, and she is constantly going back and forth with her decisions and convictions. One moment, Eliza has determined to be with Boyer, and the next she is regretting and recanting her decision and again running to Sanford. Eliza also declares again and again that she is no longer going to see or spend time with Sanford, only to agree to a meeting with him only days or moments later. Even after Eliza makes a seemingly definitive decision to reject Sanford, she does not follow it, to the dismay of her family and friends. Eliza’s indecisiveness even leads to the loss of Boyer, and it is not until he has found another love that she makes the decision that she loves him. Eliza’s inability to make a timely decision only leads to her misfortune. Further supporting the idea that Eliza is incapable of making a good decision is the result of her final decision to be with Sanford. Although it could be argued that a part of Eliza’s misery stems from her family and friends lack acceptance of her choices, it is undeniable that her ultimate decision results in the ruin of her life, both emotionally and physically. Because Eliza consents to the affair with Sanford, she is resigned to a life of shame and ruined reputation, and she mourns her decision and the effect it will have on her mother and friends as soon as her â€Å"mistake† is revealed. As a result of her decision to be with Sanford, Eliza becomes pregnant, and the shame and strain of bearing a child out of wedlock leads to her eventual death. Clearly Eliza is unable to make a good decision, so it is entirely possible that Foster believes that not only her character, but all women, are unable to do so as well. Foster seems to support the idea that women nee d the help and advice of others in order to make the right decision, and that a foolish girl trying to make such decisions for herself, trying to exert her individuality, can only result in disaster in the end. Brown also leads the reader to question individuals’ abilities to make good decisions in Wieland. In Wieland, several characters are presented as making decisions which have extreme ill effects for those around them, implying that Brown supports the idea that individuals are incapable of relying solely on themselves when it comes to decision making. Such bad decision making is without a doubt illustrated in the decisions of the villain of Weiland, Carwin. In the work, Carwin’s choice to fool around with the Wieland family creates the worst possible effects for everyone. Because of Carwin’s pranks, the family goes through countless instances of horror and grief, and their content existence is essentially ruined. Carwin and his ventriloquism causes the distress of Clara, her brother Wieland, and his entire family, and leads to an immense amount of questioning and doubting among the group. Carwin’s tricks may even have played a role in Wieland’s slaughtering of his family, if not by the direct encouragement through ventriloquism of Wieland to sacrifice them, at least by making his mind more susceptible to a mental breakdown causing him to do so by placing unnecessary stress on his mind. Carwin comes to regret his fooling with the family, as is demonstrated by his attempt to gain forgiveness and to explain himself to Clara after the nasty results of his schemes. Since Carwin regrets his decision to use the family to entertain himself, he too is illustrated as unable to make a decision which is best for himself, and which has even worse results for those around him. It could also be argued that Wieland himself is further proof of the individual’s inability to make responsible and good decisions. Not only does Wieland make the unfortunate decision to murder his family as homage to God, but his apparent mental instability initiates questioning about the ability for all Americans to make decisions for themselves. If mental instability could happen in the case of one American, it could logically happen to others, making the stability of all America vulnerable. If there are those out there who are hearing voices telling them to kill their families, America truly is in danger, especially if these people are being trusted to make significant decisions affecting themselves and others. Brown seems to be warning his readers against this possibility, and to be supporting the idea that one alone cannot make the important decisions for himself or for society. Inexperience seems to be the problem associated with one making one’s own decisions in Arthur Mervyn. Again in Mervyn, Brown seems to be supporting the idea that the intelligence of more than one person is necessary to make good decisions, and that the individual is incapable of making the wisest choices for oneself. Arthur Mervyn seems to be Brown’s illustration of why individuals are incapable of decision making, as he is undeniably inexperienced and uneducated, and unable to trust in many of his own choices in important matters. Although Mervyn seems to place faith in his actions and their moral consequences, he still is unable to believe himself to possess enough experience and knowledge to make every good decision and to achieve anything substantial in society or the world. He is constantly seeking the advice and counsel of his wiser and more worldly friends, such as the Stevens’ and even Welbeck, proving his desperation for resources and help and his in ability to make choices for himself. Mervyn even requires the advice and encouragement of Mr. Stevens in the situation of making Ascha his wife, demonstrating that he cannot make important decisions for himself even when they are of the most personal kind. Adding further doubt to Mervyn’s ability to make good decisions is the fact that when Mervyn does make a decision for himself, it has many extremely unfortunate results. Because Mervyn decides to run hastily to the city to save Susan’s fiancà ©, he causes a number of events which have terrible effects for himself and for those around him. Since Mervyn left without informing the Hadwin’s of his intentions, Mr. Hadwin risks his life unnecessarily in entering the city himself to search for Wallace. Mervyn also exposes himself to the disease while conducting his search, an occurrence which leads to the danger of infection to others as well. Undoubtedly, Mervyn is a reckless and somewhat thoughtless man when he must make his own decisions, and if it were not for luck and the care of others, he most likely would not have made it through his ordeal alive and happy. Without the intervention of others, and their help in making his choices, Mervyn would not have had his happy ending, showing that Brown believes that everyone needs help when it comes to deciding what is best for themselves and for the world. As Foster and Brown demonstrate, although America may be ideally a land where people can achieve individuality, it may not always be best for people to assume responsibility for each decison in such a tumultuous time. As the works demonstrate, looking only into oneself for the right answers is not always best, and can have some unfortunate results. Therefore, these authors each seem to be supporting the idea that in a time of many questions and such doubt, allowing others to advise and counsel can only help in the decision-making process, and help to ensure the well-being and happiness of those for whom they care. Research Papers on Choosing Your Religion and Political Beliefs - Literature EssayCapital PunishmentAssess the importance of Nationalism 1815-1850 EuropeIncorporating Risk and Uncertainty Factor in Capital19 Century Society: A Deeply Divided EraCanaanite Influence on the Early Israelite ReligionThree Concepts of PsychodynamicGenetic EngineeringRelationship between Media Coverage and Social andComparison: Letter from Birmingham and CritoResearch Process Part One