Assignment Example | Topics and Well Written Essays - 750 words - 118

Assignment Example The banking system has played an important role in home mortgages due to their role that has grown in turn in home mortgages to securities. The chain involved in securitization starts with origination of mortgages and sold to one or more financial entities before they end up to mortgage loans that are sold to investors. The value of security obtain is related to value of mortgage loans that are used to back up security paid with interest. The backed up security is paid in interest and those that own homes pay the mortgage loans. The process and stages that shadow banking is involved leads to generation of finance. This makes the process essential in generation of finances. There are differences and similarities that occur in the banks. In similarity, both the banks are seen to perform credit intermediation. However, there are varied differences that occur in the banks. In convention al banks, there is occurrence under the same roof while in shadow banking, giving out of credits occurs through a chain of entities. This makes operation in shadow banking to be more complex than in conventional banks. Another difference that can be noted between the two banks is on the regulations that are involved in acquiring credit. Conventional banks are strictly regulated having access to central bank funding and deposit insurance schemes. In shadow banks, there is little or no regulation since they are not able to access funding from central banks. Shadow banking is also based on wholesale funding. The difference that the banks have on the source of funding also is brought out in conventional banking. Universal banking refers to the condition in which are allowed to give a variety of services to their customers. The banks are not just restricted to provision of services related to loans and savings but also involved in in other services such as investments. In baking category there is banking which considers different aspects.

Pharmacology and Medical Treatment Essay Example for Free

Pharmacology and Medical Treatment Essay Relating course content to the current health care environment is an integral part of your learning. Two (2) application papers are required in this course. These short papers will give you the opportunity to apply course content. They should be approximately 500 words in length each (2 pages). The topics for these two papers are noted below. Refer to at least one outside source in addition to your text as you prepare each of these papers. Application Paper One: New Pharmaceuticals Application Paper Two: Pain Medications The body of the papers should be approximately 500 words (2 pages); there should also be a title page and a reference page. Papers that are too brief or too verbose could be subject to large point deductions. The papers should be uploaded into the appropriate Dropbox. The file should be named [LastName]AP1.doc or [LastName]AP2.doc respectively. Use APA guidelines. APA requires double-spacing, but I will allow 1 ½ spacing if desired. All sources must be cited in APA format. The full reference should be found at the end of the paper. Links to APA reference guidelines are presented at the end of the course syllabus and an interactive tutorial is located in Week 3. Application Paper 1 (Due Week 4): New Pharmaceuticals TCO 2 deals with new experimental drugs and the steps required to bring new drugs to market. The first application paper deals with this as well. Describe the steps that are required to bring a new pharmaceutical to market. Address topics like human testing, the role of the FDA in approving new drugs, and the cost incurred by drug companies when developing new drugs. Application Paper 2 (Due Week 7): Pain Medications Your first paragraph needs to outline the different types of drug to relieve pain. Then, you ONLY select ONE type of pain medication to describe the mechanism of drug action (Pharmacology) and the therapeutic efficacy. Furthermore, you need to discuss the adverse effects, abuse potential, and  toxicities of such type of drug (if applicable). Finally, you will describe your opinion of using such type of pain medication. The two topic papers are worth 140 points (70 points each) and represent 14% of your total grade. Each paper will be graded on the following: Content50 points Grammar/spelling10 points References/citations10 points Based on the following criteria: Content (double points for this category) 1. The paper fulfills the purpose of the assignment as described in the syllabus and in this document (up to 10 points) 2. The introduction leads logically to the main idea or thesis (up to 10 points) 3. Supporting evidence is developed and analyzed sufficiently (up to 10 points) 4. Conclusion provides insightful closure (up to 10 points) 5. The content flows logically and demonstrates an understanding of the topic (up to 10 points) Grammar/Spelling 1. Sentences are grammatically correct (noun/verb agreement, punctuation, sentence structure, etc.) (up to 5 points) 2. Spelling is correct (e.g., homonyms used correctly, no misspellings) (up to 5 points) References/citations 1. Sources are cited in the body of the paper using APA format (up to 5 points) 2. Reference list is included with the paper that lists only sources cited in the document (up to 5 points) Points will be awarded for each criterion on the following scale: 5 points = few or no weaknesses found; writer satisfies the criteria with distinction 4 points = strengths outweigh the weaknesses; writer shows sound understanding of criteria 3 points = strengths and weaknesses are about equal; writer shows awareness of criteria 2 points = weaknesses outweighs strengths;  writer shows limited understanding of criteria 1 point = weaknesses far outweigh strengths; writer does not show understanding of criteria Five points (5) will be deducted for each the following: No title page included Name is not on title page or in document Insufficient number of sources cited (must have at least one in addition to the course textbook) Please refer to DeVry’s Academic Integrity Policy located in the Policies Tab under Course Home in the online classroom. Any suspected violation of the Academic Integrity Policy will be handled according to the policy.

The Bank of England Monetary and financial stability

The Bank of England Monetary and financial stability The Bank of England is the central bank of the United Kingdom. Sometimes known as the Old Lady of Threadneedle Street, the Bank was founded in 1694, nationalised on 1 March 1946, and gained independence in 1997. Standing at the centre of the UKs financial system, the Bank is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy. The Bank of England exists to ensure monetary stability and to contribute to financial stability. The Bank of England has been issuing banknotes for over 300 years. During that time, both the notes themselves and their role in society have undergone continual change. From todays perspective, it is easy to accept that a piece of paper that costs a few pence to produce is worth five, ten, twenty or fifty pounds. Gaining and maintaining public confidence in the currency is a key role of the Bank of England and one which is essential to the proper functioning of the economy. Core Purpose 1 Monetary Stability Monetary stability means stable prices and confidence in the currency. Stable prices are defined by the Governments inflation target, which the Bank seeks to meet through the decisions delegated to the Monetary Policy Committee, explaining those decisions transparently and implementing them effectively in the money markets. The first objective of any central bank is to safeguard the value of the currency in terms of what it will purchase at home and in terms of other currencies. Monetary policy is directed to achieving this objective and to providing a framework for non-inflationary economic growth. As in most other developed countries, monetary policy operates in the UK mainly through influencing the price at which money is lent, in other words the interest rate. The Banks price stability objective is made explicit in the present monetary policy framework. It has two main elements: an annual inflation target set each year by the Government and a commitment to an open and accountable policy-making regime. Setting monetary policy deciding on the level of short-term interest rates necessary to meet the Governments inflation target is the responsibility of the Bank. In May 1997 the Government gave the Bank operational independence to set monetary policy by deciding the short-term level of interest rates to meet the Governments stated inflation target currently 2%. Core Purpose 2 Financial Stability Financial stability entails detecting and reducing threats to the financial system as a whole. Such threats are detected through the Banks surveillance and market intelligence functions. They are reduced by strengthening infrastructure, and by financial and other operations, at home and abroad, including, in exceptional circumstances, by acting as the lender of last resort. One of the Bank of Englands two core purposes is monetary stability. Monetary stability means stable prices low inflation and confidence in the currency. Stable prices are defined by the Governments inflation target, which the Bank seeks to meet through the decisions taken by the Monetary Policy Committee. A principal objective of any central bank is to safeguard the value of the currency in terms of what it will purchase. Rising prices inflation reduces the value of money. Monetary policy is directed to achieving this objective and providing a framework for non-inflationary economic growth. As in most other developed countries, monetary policy usually operates in the UK through influencing the price at which money is lent the interest rate. However, in March 2009 the Banks Monetary Policy Committee announced that in addition to setting Bank Rate, it would start to inject money directly into the economy by purchasing assets often known as quantitative easing. This means that the instrument of monetary policy shifts towards the quantity of money provided rather than its price. Low inflation is not an end in itself. It is however an important factor in helping to encourage long-term stability in the economy. Price stability is a precondition for achieving a wider economic goal of sustainable growth and employment. High inflation can be damaging to the functioning of the economy. Low inflation can help to foster sustainable long-term economic growth. Monetary Policy Framework The Banks monetary policy objective is to deliver price stability low inflation and, subject to that, to support the Governments economic objectives including those for growth and employment. Price stability is defined by the Governments inflation target of 2%. The remit recognises the role of price stability in achieving economic stability more generally, and in providing the right conditions for sustainable growth in output and employment. The Governments inflation target is announced each year by the Chancellor of the Exchequer in the annual Budget statement. The 1998 Bank of England Act made the Bank independent to set interest rates. The Bank is accountable to parliament and the wider public. The legislation provides that if, in extreme circumstances, the national interest demands it, the Government has the power to give instructions to the Bank on interest rates for a limited period. The inflation target The inflation target of 2% is expressed in terms of an annual rate of inflation based on the Consumer Prices Index (CPI). The remit is not to achieve the lowest possible inflation rate. Inflation below the target of 2% is judged to be just as bad as inflation above the target. The inflation target is therefore symmetrical. If the target is missed by more than 1 percentage point on either side i.e. if the annual rate of CPI inflation is more than 3% or less than 1% the Governor of the Bank must write an open letter to the Chancellor explaining the reasons why inflation has increased or fallen to such an extent and what the Bank proposes to do to ensure inflation comes back to the target. A target of 2% does not mean that inflation will be held at this rate constantly. That would be neither possible nor desirable. Interest rates would be changing all the time, and by large amounts, causing unnecessary uncertainty and volatility in the economy. Even then it would not be possible to keep inflation at 2% in each and every month. Instead, the MPCs aim is to set interest rates so that inflation can be brought back to target within a reasonable time period without creating undue instability in the economy. The Monetary Policy Committee The Bank seeks to meet the inflation target by setting an interest rate. The level of interest rates is decided by a special committee the Monetary Policy Committee. The MPC consists of nine members five from the Bank of England and four external members appointed by the Chancellor. It is chaired by the Governor of the Bank of England. The MPC meets monthly for a two-day meeting, usually on the Wednesday and Thursday after the first Monday of each month. Decisions are made by a vote of the Committee on a one-person one-vote basis. Communications The interest rate decision is announced at 12 noon on the second day. The minutes of the meetings, including a record of the vote, are published on the Wednesday of the second week after the meeting takes place. Each quarter, the Bank publishes its Inflation Report, which provides a detailed analysis of economic conditions and the prospects for economic growth and inflation agreed by the MPC. The Bank also publishes other material to increase awareness and understanding of its monetary policy function. Monetary Policy Committee (MPC) Interest rates are set by the Banks Monetary Policy Committee. The MPC sets an interest rate it judges will enable the inflation target to be met. The Banks Monetary Policy Committee (MPC) is made up of nine members the Governor, the two Deputy Governors, the Banks Chief Economist, the Executive Director for Markets and four external members appointed directly by the Chancellor. The appointment of external members is designed to ensure that the MPC benefits from thinking and expertise in addition to that gained inside the Bank of England How Monetary Policy Works From interest rates to inflation When the Bank of England changes the official interest rate it is attempting to influence the overall level of expenditure in the economy. When the amount of money spent grows more quickly than the volume of output produced, inflation is the result. In this way, changes in interest rates are used to control inflation. The Bank of England sets an interest rate at which it lends to financial institutions. This interest rate then affects the whole range of interest rates set by commercial banks, building societies and other institutions for their own savers and borrowers. It also tends to affect the price of financial assets, such as bonds and shares, and the exchange rate, which affect consumer and business demand in a variety of ways. Lowering or raising interest rates affects spending in the economy. A reduction in interest rates makes saving less attractive and borrowing more attractive, which stimulates spending. Lower interest rates can affect consumers and firms cash-flow a fall in interest rates reduces the income from savings and the interest payments due on loans. Borrowers tend to spend more of any extra money they have than lenders, so the net effect of lower interest rates through this cash-flow channel is to encourage higher spending in aggregate. The opposite occurs when interest rates are increased. Lower interest rates can boost the prices of assets such as shares and houses. Higher house prices enable existing home owners to extend their mortgages in order to finance higher consumption. Higher share prices raise households wealth and can increase their willingness to spend. Changes in interest rates can also affect the exchange rate. An unexpected rise in the rate of interest in the UK relative to overseas would give investors a higher return on UK assets relative to their foreign-currency equivalents, tending to make sterling assets more attractive. That should raise the value of sterling, reduce the price of imports, and reduce demand for UK goods and services abroad. However, the impact of interest rates on the exchange rate is, unfortunately, seldom that predictable. Changes in spending feed through into output and, in turn, into employment. That can affect wage costs by changing the relative balance of demand and supply for workers. But it also influences wage bargainers expectations of inflation an important consideration for the eventual settlement. The impact on output and wages feeds through to producers costs and prices, and eventually consumer prices. Some of these influences can work more quickly than others. And the overall effect of monetary policy will be more rapid if it is credible. But, in general, there are time lags before changes in interest rates affect spending and saving decisions, and longer still before they affect consumer prices. We cannot be precise about the size or timing of all these channels. But the maximum effect on output is estimated to take up to about one year. And the maximum impact of a change in interest rates on consumer price inflation takes up to about two years. So interest rates have to be set based on judgments about what inflation might be the outlook over the coming few years not what it is today. Setting interest rates As banker to the Government and the banks, the Bank is able to forecast fairly accurately the pattern of money flows between the Governments accounts on one hand and the commercial banks on the other, and acts on a daily basis to smooth out the imbalances which arise. When more money flows from the banks to the Government than vice versa, the banks holdings of liquid assets are run down and the money market finds itself short of funds. When more money flows the other way, the market can be in cash surplus. In practice the pattern of Government and Bank operations usually results in a shortage of cash in the market each day. The Bank supplies the cash which the banking system as a whole needs to achieve balance by the end of each settlement day. Because the Bank is the final provider of cash to the system it can choose the interest rate at which it will provide these funds each day. The interest rate at which the Bank supplies these funds is quickly passed throughout the financial system, influencing interest rates for the whole economy. When the Bank changes its dealing rate, the commercial banks change their own base rates from which deposit and lending rates are calculated. Quantitative Easing In March 2009, the Monetary Policy Committee announced that, in addition to setting Bank Rate at 0.5%, it would start to inject money directly into the economy in order to meet the inflation target. The instrument of monetary policy shifted towards the quantity of money provided rather than its price (Bank Rate). But the objective of policy is unchanged to meet the inflation target of 2 per cent on the CPI measure of consumer prices. Influencing the quantity of money directly is essentially a different means of reaching the same end. Read more Significant reductions in Bank Rate have provided a large stimulus to the economy but as Bank Rate approaches zero, further reductions are likely to be less effective in terms of the impact on market interest rates, demand and inflation. And interest rates cannot be less than zero. The MPC therefore needs to provide further stimulus to support demand in the wider economy. If spending on goods and services is too low, inflation will fall below its target. The MPC boosts the supply of money by purchasing assets like Government and corporate bonds a policy often known as Quantitative Easing. Instead of lowering Bank Rate to increase the amount of money in the economy, the Bank supplies extra money directly. This does not involve printing more banknotes. Instead the Bank pays for these assets by creating money electronically and crediting the accounts of the companies it bought the assets from. This extra money supports more spending in the economy to bring future inflation back to the target

Ayashi no Ceres :: essays research papers

Ayashi No Ceres (Suspicious Ceres)   Ã‚  Ã‚  Ã‚  Ã‚  Aya Mikage and Aki Mikage are hanging out with their friends and they make Aya go and get her fortune told. Her fortune is about how when she turns 16, her life will be turned upside down and a dark star will effect her fate. She doesn’t know what the woman was talking about but she was right. Then when they are walking across a bridge a man steals an old lady’s purse and Aya runs after the man. When she gets the purse she falls over the edge of the bridge and then is saved by a mysterious force. The night before her and Aki’s birthday their parents tell them that they are to come straight home from school because they’re going to their grandpa’s house to celebrate their birthday. When Aki and Aya arrive their whole family is there and they are all sitting around a table. A man gives them a box and Aya is cautious in opening it. Aki takes it from her and opens it. Once he does Aya feels a mysterious presence over her and then she sees images in her head. Once she comes to, she looks at Aki and he’s shaking. Then he gets a bunch of slashes all over his skin and he’s bleeding everywhere. The test that Aya’s family put her up to is true. The celestial being named Ceres is in Aya. The rest of the family leaves and Aya and her grandpa and her father are still in the room. Aya’s father is suppose to shoot her, yet as he struggles, he tells her to fight her fate and her grandpa’s hit man shoots her father in the head. Aya screams and Ceres takes over her body and kills almost everyone in the room with a large energy blast. Aya doesn’t remember what happens and wakes up in a tree. Tooya, a man who saved her from getting hit by a car, finds her there and kisses her to stop her from screaming when hit men are walking around looking for Aya to kill her. Suzumi sends her brother-in-law, Yuuhi to go and get Aya. He does and Yuuhi brings her back to the Aogiri household. Suzumi e xplains to Aya what’s going on. Aya is of the bloodline that has a Tennyo (Angel/Fairy) blood. She tells how the Mikage have killed countless women in the family who show signs of Ceres being in them.

Encourage Foreigners to Invest in Philippine Real Estate Market

Topic: Encourage Foreigners to Invest in Philippine Real Estate Market Real estate business is a very lucrative and capital intensive venture. It is not for just any one, but only for those who have financial capacity and willingness to buy real properties. Real property may come in the form of buy and sell, or merely renting and make money out of it. Known as one of the most vibrant real estate markets in Asia, the Philippines growing economy consistently sustained its growth despite the global economic recession. The country's real estate industry has been receiving positive remarks from various analysts across the globe.The reflection of its success, mainly rooted to the country's excellent financing services, good capitalization and pro-business climate drives every real estate investors to provide the best real estate solutions for needs of the market. The real estate industry has been increasing year on year and this is characterized by the dynamic growth and upsurge of condomi nium development across Metro Manila. This growth is fuelled by the increasing overseas Filipino workers remittances as well as new investors who take advantage of the benefits of the low interest rates in the housing market.The influx of condominium development across Metro Manila also validates the soaring demand for residential options, which is between renting an apartment and owning a home in the city. Various innovative unit designs and concepts are being offered in the market to suit current trends in housing and lifestyle preferences of today’s market. This increasing realtors’ confidence to Philippine real estate industry is brought by the improving economy, implementation of good governance among private and public sectors, and the reform inspired government of the new administration.Presently, the real estate market is banking on two major components: (1) remittances of overseas Filipino workers and (2) continuous growth demand by the expanding business proc ess outsourcing industry in the country. Aside from having an investment that never depreciate, investing in real estate in the Philippines would give foreigners additional investment portfolio in a much lower cost compared if they invest it in their own land. The cost of living in the Philippines is relatively lower compared to other nations, and therefore, foreigners can have more value for their money, which in turn increases their investment opportunities.That would be considered â€Å"hitting two birds with one stone†. The economic outlook on the Philippine real estate market is seen to be growing, and it will continue to grow in the next five to ten years brought by the ensuing business process outsourcing industry. BPO is becoming one of the primary sources of income of the young working population in the country today. Owning/Investing Options for Foreigners Any foreigner can lease, buy and own with 100% ownership rights on condominium units only.As far as the law is concerned, every piece of land of the Philippines is for the Filipino only. For investment purposes, foreigners may also lease or buy building offices for business purposes, like those being rented out to others. In as much as there are limitations being followed by foreigners when investing the Philippine real estate market, there are also ways on how they can easily own one. (1) Lease a property – foreigners can lease a property from short to long-term as long as both parties to contract mutually agree. Leased properties may be subleased to other tenants.This form of business operation may be considered as legal operation and foreigners can take advantage of. (2) Be married to a Philippine citizen – once a foreigner is married to a Philippine citizen, the rights to own a land becomes a conjugal. It may seem to be the fastest and least cost among other options. (3) Inherit the property from a deceased Philippine spouse – once married, but suddenly the Philippin e citizen spouse died. In this situation, the foreigner spouse together with the other surviving heirs; will be the immediate heir and owner of the property left behind. 4) Purchase land as Balikbayan – some Filipinos who have stayed abroad and eventually availed of another citizenship, may still buy and own properties. It is also possible to own property if the parents or relatives wanted to transfer their property ownership to a Balikbayan. (5) Buy condominium units – foreigners can buy condominium units, in the same way as a Philippine citizen acquires condominium unit. Some foreigners can also do trading of condominium units. They can do buy and sell business operation, wherein they will buy a barely finished unit, dress it up and fill with furnitures, and sell at a premium or lease it out. 6) Form a corporation – this option opens the opportunity for foreigners to invest in land, but, it is a must, that the corporation be composed of at least 60% Filipino a nd only 40% for foreigners. The majority stakeholder should still be Filipinos. After enumerating the ways on how foreigners can invest in the Philippine real estate market, it is imperative for them to know the basic information and obligations when investing in real property. First thing is the preparation for tax obligations. Non-resident foreigners who acquire property may be assessed with 5% – 32% of taxes, depending on the nature of the transaction.Another consideration is the documentary requirements necessary for the processing of transferring of ownership to a foreign national. There are documents that need to be authenticated by the Philippine Consulate from their country. Overview of the Real Estate Investment Trust (REIT) The efforts of passing the REIT Law will open another medium for foreigners’ opportunity to invest in the Philippine real estate market. REIT is defined as a corporation engaged in business whose income will be generated from owning or man aging real estate.Through this REIT, the country will be given a better and bigger opportunity to join the global market of real estate investment markets, and foreigners can take their part in. Since it is not yet passed as law, the regulations, rules and limitations are still unknown. Another positive contributor to success of the real estate sector is the proliferation of establishment of special economic zones across the country. The government provides incentives to companies who patronize economic zones, and this attracts more foreign corporate clients and brings their business process outsourcing facilities here.

Capital City Bank Case Analysis Essay

Capital City Bank (CCB) was a medium sized commercial bank owned by a small group of shareholders. Its total employee force numbered nearly 1,000 personnel. Because of the company’s poor performance in recent years, the owners decided to sell their equity to a group of new investors who felt that CCB could be turned around with more aggressive management. The transfer of ownership of the bank was followed by basic changes in bank strategy as well as changes in many key personnel, many of them at the top level. The basic changes implemented by the new management of CCB included a more active pursuit of foreign financing activities as well as a heightened emphasis on lending activities to large corporate accounts. To better implement these changes in basic strategy, CCB was reorganized. NEW ORGANIZATION The reorganization of the bank involved the creation of two new divisions, namely, the Corporate Banking Division and the Trust Division (See Exhibit A). The Corporate Banking Division was given the responsibility of marketing the different loans of the company to large domestic corporations, multinational corporations, as well as to the medium sized companies which had been the traditional clients of the bank. A wide range of credit lines were offered to these accounts such as Direct Advance Line, Import Letters of Credit, Export Bill Purchases Line, Export Packing Credit Line, Domestic Bills Purchase Line, and others. Mr. Vicente Torres, a new recruit from a similar department in another bank in Metro Manila, headed this new division. The Trust Division was charged with undertaking trust services for individual and business clients. A major service assigned to this division was the Common Trust Fund. This involved the pooling of funds drawn from various participants, investing this fund in safe and high yielding investments, and  sharing the returns from the investments among the participants in proportion to the amounts contributed by each. The Trust Division was however to perform only the investment function. The marketing of this service to corporate and individual accounts was entrusted to the Branch Division. The latter also marketed the services of ten branches of the bank located around Metro Manila. THE DEPOSIT DRIVE As a corollary to aggressive selling the various lending and trust services of the CCB, bank management also decided to undertake an effort to increase savings and other deposits in the bank. A deposit drive was launched involving all the employees of the company. A set of rules was drawn up such that all departments and sections of the bank, regardless of whether they performed marketing functions or not, were given points for new deposits brought in to the bank. The drive was to last for six months and the winners would be awarded attractive prizes and bonuses. THE ORIENTAL ACCOUNT Towards the end of the year, one of the account officers of the Banking Division approached Oriental Company with an offer for working capital loan. Because Oriental had been banking with CCB for nearly a year, the account officer offered a P10 million working capital loan to Oriental at 18% rate of interest – at the time considered a â€Å"good† rate for favored accounts. Oriental considered to take advantage of the favorable interest rate offered and availed of the loan. Shortly thereafter, the Branch Marketing group decided to solicit the same account for the Common Trust Fund of the Trust Division. To attract Oriental to participate in the fund, they offered Oriental a 19% return for a P10 million 60-day placement with the Trust Division. The Finance Manager of Oriental was surprised at the disparity between the bank’s lending and deposit rates but decided to take advantage of the Branch Marketing Group’s offer by making the P10 million placement with the Trust Division. It was not until later in the year that Vicente Torres discovered the odd situation with Oriental. He called the manager of the Branch Marketing Group and asked â€Å"How could you allow your traders to offer a higher rate than our lending rate to Oriental? We not only lose money but we also look very foolish to our clients!† The Branch Marketing Group Manager replied that neither she nor her traders knew that the Banking Division had lent to Oriental at 18%. QUESTIONS: What were the causes of the â€Å"odd† situation in the case? THE NUMBER ONE CAUSE FOR THE â€Å"ODD† SITUATION IN THIS CASE IS THAT BRANCH MARKETING GROUP SOLICITED A CORPORATE ACCOUNT FOR A RETAIL ACCOUNT. IF THEY HAD WANTED TO OFFER THE PRODUCT COMMON TRUST FUND TO THE CLIENT, IT SHOULD HAVE BEEN COURSED THROUGH THE BANKING DIVISION WHO MAINLY TAKES CARE AND HANDLES CORPORATE CLIENTS. THE ERROR OCCURRED WHEN RETAIL BANKING SOLICITED A CORPORATE CLIENT. THIS SHOULD HAVE BEEN REFERRED TO THE ACCOUNT OFFICER HANDLING THIS PARTICULAR CORPORATE CLIENT. What should CCB management do to avoid similar problems in the future? THERE SHOULD BE DELINEATION OF DEPARTMENTS AND THEIR SCOPE. RETAIL BANKING DIVISION WHICH IS PRIMARILY THE BRANCH, SHOULD NOT SOLICIT ACCOUNTS BEING HANDLED BY THE CORPORATE DIVISION (BANKING DIVISION). RETAIL BANKING DIVISION SHOULD CONCENTRATE PRIMARILY ON RETAIL CLIENTS EVEN IF A CORPORATE CLIENT HAS AN ACCOUNT IN THE BRANCH. CORPORATE CLIENTS ARE HANDLED BY ACCOUNT OFFICERS. A CIRCULAR/MEMO SHOULD BE ISSUED STRESSING THE HANDLING OF CORPORATE AND RETAIL CLIENTS. NEW ORGANIZATION OF CAPITAL CITY BANK

A Sample Position Paper

A SAMPLE POSITION PAPER Globalization: A Transition to What? Barber, Benjamin R. Introduction to Jihad vs. McWorld (New York: Ballantine Books, 1996) Kobrin, Stephen J. â€Å"Back to the Future: Neomedievalism and the Postmodern Digital World Economy,† Globalization and Governance (London: Routledge, 1999. After the bloody clashes between anti-globalization protesters and the police in Genoa, globalization is once again on the world's agenda and it is here to stay. A dream to some and a nightmare to others, globalization is a widely debated issue among journalists and scholars, among intellectuals of all profiles, business people and decision-makers alike. Benjamin R. Barber, Walt Whitman professor of political science, and Stephen J. Kobrin, professor of multinational management, both join the discussion, each giving his own vision of what the post-modern future of this globalized world might look like. In â€Å"Jihad vs. McWorld† Barber's fragmented and at the same time integrated world is â€Å"terminally post-democratic† (20). It is pulled apart by two opposing forces: disintegrating ethnic hatreds and unifying mechanisms of global economy, none of which cares much for civic society and civil liberties. In Barber's terminology Jihad stands for the blind parochialism of any kind, but primarily for tribal instincts that tear countries apart and cause bloody wars. McWorld epitomizes the world of consumerist capitalism unified by commerce, entertainment and consumerism that knows no borders. Although Jihad seems like a more obvious threat to democracy, McWorld is no less dangerous because both are enemies of the sovereign nation states and of democracy. Barber warns that democracy might be collateral damage from the confrontation between globalization and parochial fragmentation. While Barber is primarily interested in the fate of democracy, Kobrin gives a great deal of attention to the problem of state sovereignty in the increasingly integrated world. In â€Å"Back to the Future: Neomedievalism and the Postmodern Digital World Economy† the key issue is the anticipated transformation of state sovereignty into new forms of political loyalty. Kobrin argues that sovereign state as we know it-firmly defined within certain territorial borders-is about to change profoundly, if not to wither away. National markets are too small to be self-sustainable which challenges the meaning of territorial boundaries between states. Both authors acknowledge that sovereignty, defined as unambiguous authority, is threatened. Whereas Barber finds that alarming, Kobrin takes this as a historical inevitability; modern state system, based on mutually exclusive jurisdiction, may be an anomaly rather than a historically privileged form of political organizations. Kobrin argues that we should look at the medieval world for the answers to how the future might look like. Medieval analogy offers a world of overlapping multiple authorities and absence of fixed boundaries. It is a world of multiple political loyalties-to emperors, to the pope, to feudal lords-which are complex rather than linear. Kobrin's modern analogy is European Union, with its overlap of national, regional and supra-national authorities. The medieval metaphor seems attractive, but Kobrin forgets that the world of the Middle Ages was highly decentralized rather than unified, and in that sense radically different from our own. Medieval feuds, as economic units, were self-sufficient and isolated-everything that modern markets are not. Kobrin himself argues that the integrated economy requires a strong central authority, perhaps not yet in the form of world government but certainly through stronger international organizations such as WTO. Clearly, this is a different kind of authority than a pope or an emperor might have had in medieval world. Is medieval analogy applicable at all? If we follow Kobrin's reasoning, it appears that the new world will require more rather than less authority. Nation-state's sovereignty may be eroding, but, as a result, we have an increasing supra-national authority instead of a loose authority of the medieval type. Barber, on the other hand, may be launching an artificial dichotomy. While McWorld sounds like an apt metaphor for globalization, Jihad seems to be a superficial, emotionally charged term with multiple meanings. Barber draws on Yeats and Mary Shelly to define this â€Å"heritage of race,† the force of tribal instincts, ancient hatreds, and fundamentalism. Although doubtless poetic, the concept of Jihad, as described by Barber, is confusing. He takes a few examples of ethnic conflict, such as Bosnia or Rwanda, and declares they are but a manifestation of the tribalisation phenomenon, but he does little to support his thesis. Did Bosnia really fall apart because of ancient, tribal hatreds? Barber overlooks the fact that peoples of Bosnia have been living peacefully with one another much longer than they have waged wars. Reducing complex conflicts to an oversimplified, poorly defined phenomenon such as Jihad helps Barber support his shaky Jihad-McWorld dichotomy but does little to persuade the reader that Jihad exists as such. Barber's and Kobrin's views seem diametrically opposite whereas it may simply be that they are considering different issues. There is little common ground between them in terms of problems they are interested in. They both take McWorld for granted, though. Neither challenges globalization nor tries to imagine the world as something other than globalized, digital, and integrated. Even Barber who laments over the destructiveness of Jihad admits that McWorld is the winner in the long run. Although they have different agendas, they are telling essentially one and the same thing-the future belongs to McWorld. What with democracy, Barber asks? Everyone will be a consumer, but what will happen to citizens? For Kobrin, however, the problem does not exist; just as we have civil societies within states today, in the future they will be replaced by global civil society with its mixture of state and non-state actors, NGOs, transnational movements. Are Barber and Kobrin debating at all? Their visions of the world in the future are not mutually exclusive. Barber comes up with a bold notion that not even nations constitute main players today, but tribes. His description of balkanization, tribalization and awakening of atavistic forces among peoples evokes images of dark Middle Ages. Barber warns that our civilization is beginning to resemble medieval past in which the world consisted of warring fiefdoms unified by Christianity; in our world, Bosnian Serbs and alike wage their ethnic conflicts while both the aggressors and the victims eat the same BigMacs, wear jeans and watch MTV. It seems that he is also looking at the world through medieval prism, albeit from its dark side. It is precisely the dark side that Kobrin avoids confronting. He is intentionally focused on the practicalities of managing the world in the future so he lefts out of the picture the unpleasant details. Fragmentation is one of the issues that he chooses not to consider although he acknowledges that some authors, such as Kaplan offer a less optimistic vision of the world torn by refugee migration, private armies, collapse of nation state and civil order with it. Kobrin's only response to this grim prophecy is little more than hope: â€Å"One hopes that such an age is not part of the neomedieval metaphor, hat a new and more terrifying barbarian is not on the horizon† (183). Walled communities and private security forces that he admits appear increasingly today could be, Kobrin still hopes, only â€Å"ephemeral products of a world in transition and not a permanent characteristic of the postmodern era† (183). Barber, Benjamin R. Introduction to Jihad vs. McWorld (New York: Ballantine Books, 1996) Kobrin, Stephen J. â€Å"Back to the Future: Neomedievalism and the Postmodern Digital World Economy,† Globalization and Governance (London: Routledge, 1999.