Introduction of Banking Sector free essay sample

The Indian economy is rising as one of the most grounded economy of the world with the GDP development of over 8% consistently. This has given an incredible help for the improvement of banking industry in the nation. Because of globalization, rivalry among the banks has radically been expanded. As India has a considerable upper and working class salary thus the banks have enormous chances to expand their pieces of the pie. The buyer being in a bad way is in the agreeable position yet the banks attempting to build their piece of the overall industry need to ceaselessly include alue for buyers so as to expand piece of the pie and continue their development. BANKING SECTOR The financial segment is the most predominant part of the money related framework in India. Huge advancement has been made as for the financial area in the post progression period. The monetary strength of the business banks has improved manifolds as for capital ampleness, benefit, and resource quality and hazard the executives. We will compose a custom paper test on Presentation of Banking Sector or on the other hand any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Further, deregulation has opened new open doors for banks to expand income by broadening into speculation banking, protection, charge cards, epository administrations, contract, securitization, and so on. Progression has made an increasingly serious condition in the financial part. The starting point of banking in India is recognizable in antiquated time through the advanced banking barely 200 years of age. The primary capacity of bank is to acknowledge stores and award credits. There is proof of these capacities being performed by an area of the network in the Vedic time frames. There are numerous references of obligation in the Vedic writing. During the Ramayana and Mahabharata territories banking, which was a side usiness during the Vedic time frame, become a fulltime business movement for the individuals. During the smriti period, which followed the Vedic time frame and the Epic age, brokers played out the capacity of the cutting edge banks. The individuals from the Vaish people group carried on the financial business and Manu talks about winning through enthusiasm as the matter of Vaishays. He acknowledged stores from general society, allowed credits against promises and individual security, conceded basic open advances, went about as bailee for his clients, bought in to open advances by giving advances to lords, went about as treasurer nd financier to the state and dealt with the cash of the nation. Indigenous brokers used to keep up a standard arrangement of records and borrowers used to sign the advance deeds. n presence in India is the State Bank of India, a legislature possessed bank that follows its beginnings back to June 1806 and that is the biggest business bank in the nation. Focal banking is the obligation of the Reserve Bank of India, which in 1935 officially assumed control over these duties from the then Imperial Bank of India, consigning it to business banking capacities. After Indias autonomy in 1947, he Reserve Bank was nationalized and given more extensive forces. In 1969 the legislature nationalized the 14 biggest business banks; the administration nationalized the six next biggest in 1980. As of now, India has 88 booked business banks (SCBs) 27 open segment banks (that is with the Government of India holding a stake), 31 private banks (these don't have government stake; they might be freely recorded and exchanged on stock trades) and 38 outside banks. They have a joined system of more than 53,000 branches and 17,000 ATMs. As indicated by a report by ICRA Limited, a rating office, the open area anks hold more than 75 percent of all out resources of the financial business, with the private and remote banks holding 18. 2% and 6. 5% separately. Early history Banking in India started in the most recent many years of the eighteenth century. The main banks were The General Bank of India, which began in 1786, and the Bank of Hindustan, the two of which are currently dead. The most seasoned bank in presence in India is the State Bank of India, which started in the Bank of Calcutta in June 1806, which very quickly turned into the Bank of Bengal. This was one of the three administration banks, he other two being the Bank of Bombay and the Bank of Madras, every one of the three of which were built up under contracts from the British East India Company. For a long time the Presidency banks went about as semi national banks, as did their replacements. The three banks converged in 1925 to frame the Imperial Bank of India, which, upon Indias freedom, turned into the State Bank of India. Indian vendors in Calcutta set up the Union Bank in 1839, however it flopped in 1848 as a result of the monetary emergency of 1848-49. The Allahabad Bank, set up in 1865 and as yet working today, is the most seasoned Joint Stock bank in India. It was not he first however. That respect has a place with the Bank of Upper India, which was set up in 1863, and which made due until 1913, when it fizzled, with a portion of its benefits and liabilities being moved to the Alliance Bank of Shimla. At the point when the American Civil War halted the flexibly of cotton to Lancashire from the Confederate States, advertisers opened banks to back exchanging Indian cotton. With huge introduction to theoretical endeavors, the greater part of the banks opened in India during that period fizzled. The investors lost cash and lost enthusiasm for keeping stores with banks. Consequently, banking in India remained the selective area of Europeans for next a very long while until the start of the twentieth century. Comptoire dEscompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, at that point a French state, followed. HSBC built up itself in Bengal in 1869. Calcutta was the most dynamic exchanging port India, chiefly because of the exchange of the British Empire, thus turned into a financial focus. [pic] The Bank of Bengal, which later turned into the State Bank of India. The primary altogether Indian Joint stock bank was the Oudh Commercial Bank, set up in 1881 in Faizabad. It flopped in 1958. The following was the Punjab National Bank, set up in Lahore in 1895, which has made due to the present and is currently probably the biggest bank in India. Around the turn of the twentieth Century, the Indian economy was going through a general time of strength. Around five decades had slipped by since the Indian Mutiny, and the social, mechanical and other foundation had improved. Indians had set up little banks, the vast majority of which served specific ethnic and strict networks. The administration banks commanded banking in India however there were additionally some trade banks and various Indian Joint stock banks. Every one of these banks worked in various portions of the economy. The trade banks, generally claimed by Europeans, focused on financing remote exchange. Indian Joint stock banks were by and large undercapitalized and came up short on the experience and development to contend with the administration and trade banks. This division let Lord Curzon to watch, In regard of banking it appears we are out of date. We resemble some good old cruising transport, isolated by strong wooden bulkheads into independent and unwieldy compartments. The period somewhere in the range of 1906 and 1911, saw the foundation of banks roused by the Swadeshi development. The Swadesh development enlivened nearby specialists and political fgures to establish banks of and for the Indian people group. Various banks set up then have made due to the present, for example, Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India. The enthusiasm of Swadesh development lead to building up of numerous private banks in Dakshina Kannada and Udupi region which were bound together before and known by the name South Canara ( South Kanara ) locale. Four nationalized banks began in this region and furthermore a main private area bank. Henceforth unified Dakshina Kannada istrict is known as Cradle of Indian Banking. From World War I to Independence World War (1939-1945), and two years from that point until the autonomy of India were trying for Indian banking. Nationalization By the 1960s, the Indian financial industry has become a significant apparatus to encourage the improvement of the Indian economy. Simultaneously, it has risen as a huge industry. Indira Gandhi, the-then Prime Minister of India communicated the goal of the GOI in the yearly gathering of the All India Congress Meeting in a paper entitled Stray contemplations on Bank Nationalization. The paper was gotten with positive eagerness. From that point, her move was quick and unexpected, and the GOI gave a law and nationalized the 14 biggest business keeps money with impact from the 12 PM of July 19, 1969. Jayaprakash Narayan, a national chief of India, portrayed the progression as a masterstroke of political quickness. Inside about fourteen days of the issue of the statute, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it got the presidential endorsement on 9 August, 1969. A second portion of nationalization of 6 increasingly business banks followed in 1980. The tated explanation behind the nationalization was to give the administration more control of credit conveyance. With the second portion of nationalization, the GOI controlled around 91% of the financial business of India. Later on, in the year 1993, the legislature combined New Bank of India with Punjab National Bank. It was the main merger between nationalized banks and brought about the decrease of the quantity of nationalized banks from 20 to 19. After this, until the 1990s, the nationalized banks developed at a pace of around 4%, closer to the normal development pace of the Indian economy. The nationalized banks were credited by a few, including Home priest P. Chidambaram, to have helped the Indian economy withstand the worldwide money related cnsts of 2007-2009. Progression In the mid 1990s, the then Narsimha Rao government left on

Marketing Research Proposal Example | Topics and Well Written Essays - 2000 words

Promoting - Research Proposal Example f information from fifteen respondents arbitrarily chose to introduce their perspectives on the issue and comparable to Burger King and their mentalities towards the organization and its items and administrations when the embarrassment. The respondents were chosen arbitrarily from everybody, and all were matured over 18 years. The examination was led through subjective assortment of information utilizing polls. The aftereffects of this examination indicated that the Horse meat Scandal significantly affected the showcasing system of Burger King as an organization. Huge numbers of its beforehand steadfast clients lost trust, and some demonstrated a beginning of stress. Of all the 15 respondents from whom the information was gathered, just 4 (27%) showed having not changed their mentality towards the organization. The rest 73% of the respondents were irate with the disclosure of the outrage and would not prescribe the organization to anybody later on. This mentality was available even among 2 respondents who had not eaten at Burger King previously. These outcomes show that must organizations to watch business morals and guarantee that they don't lose clients out of such outrages. It, thusly, suggests that Burger King ought to be open and concede the imperfections in the suppliers’ examination and accreditation and guarantee the customer of watchfulness and look for statement of regret. In mid 2013, an influx of purchaser commotion was knowledgeable about the food business in Western Europe. The shock was with respect to organizations deceptive practice claims. I had been accounted for through a few media that horse meat was being added to hamburger items from a few fundamental makers of burgers and different nourishments in the business. Among the organizations who were shown to be associated with this outrage were Burger King and Tesco, the two goliaths in the business. This issue of meat defilement came to be alluded by numerous the â€Å"Horse Meat Scandal† (HMS). The outrage didn't just have quick impact on the meat business, yet in addition the possibility of customer trust in things advertised

Blog Archive Friday Factoid Program for Financial Studies at CBS

Blog Archive Friday Factoid Program for Financial Studies at CBS Already well known as a finance powerhouse, Columbia Business School has stepped up its finance game with the recent (2010) establishment of the  Program for Financial Studies. The umbrella initiative connects faculty who approach financial studies from a variety of disciplines with students, alumni and external organizations. The programs main goals are to support research, to enhance the Columbia finance curriculum and related resources and to create opportunities for the exchange of ideas between Columbia students and faculty and members of the external finance community. Finance wonks will enjoy the program’s case studies, including The Norwegian Government Pension Fund: The Divestiture of Wal-Mart Inc., written by Professor Andrew Ang, and Don’t Be Evil: Google’s 2004 Dutch Auction Initial Public Offering, written by the program’s director, Professor Laurie Hodrick. Share ThisTweet Columbia University (Columbia Business School) Friday Factoids Blog Archive Friday Factoid Program for Financial Studies at CBS Already well known as a finance powerhouse, Columbia Business School stepped up its finance game in 2010 with the establishment of the  Program for Financial Studies. The umbrella initiative connects faculty who approach financial studies from a variety of disciplines with students, alumni and external organizations. The programs main goals are to support research, to enhance the Columbia finance curriculum and related resources and to create opportunities for the exchange of ideas between Columbia students and faculty and members of the external finance community. Finance enthusiasts will enjoy the program’s case studies, including The Norwegian Government Pension Fund: The Divestiture of Wal-Mart Inc., written by Professor Andrew Ang, and Don’t Be Evil: Google’s 2004 Dutch Auction Initial Public Offering, written by the program’s director, Professor Laurie Hodrick. Share ThisTweet Columbia University (Columbia Business School) Friday Factoids Blog Archive Friday Factoid Program for Financial Studies at CBS Already well known as a finance powerhouse, Columbia Business School has stepped up its finance game with the recent (2010) establishment of the  Program for Financial Studies. The umbrella initiative connects faculty who approach financial studies from a variety of disciplines with students, alumni and external organizations. The programs main goals are to support research, to enhance the Columbia finance curriculum and related resources for students and to create opportunities for the exchange of ideas between Columbia students and faculty and members of the external finance community. Finance wonks will enjoy the program’s case studies, including The Norwegian Government Pension Fund: The Divestiture of Wal-Mart Inc., written by Professor Andrew Ang, and Don’t Be Evil: Google’s 2004 Dutch Auction Initial Public Offering, written by the program’s director, Professor Laurie Hodrick. Share ThisTweet Columbia University (Columbia Business School) Friday Factoids

Example Of Heroism In Beowulf - 726 Words

Throughout this semester I have had the opportunity to discover many outstanding texts that have extraordinary themes to them which I could relate to personally. I have gained a great amount of knowledge from studying the texts from this semester. At points I sometimes wish that I could have the chance to read even more because I thoroughly enjoy it. Although there are many texts that we studied, I especially enjoyed, Beowulf, A Valediction: Forbidding Mourning, and Morte D’Arthur. To begin, in the text, Beowulf, there was a theme of heroism which made the story one of my favorites. Beowulf is an outstanding hero who is willing to give up his life to save everyone. He has insane battles against scary monsters that no one else could even†¦show more content†¦However, Arthur doesn’t die, Arthur pulls the spear further into his body and continues to kill his son while there is a spear through his whole body. That takes a lot of guts to be able to put yourself thr ough that much pain in order to save the kingdom from evil. It amazes me how much King Arthur sacrifices in this story, which is why its one of my favorites. Last but not least, the poem, A Valediction: Forbidding Mourning, has a very deep explanation which is why It is my last Favorite text. In this poem it is about a man who is going on an adventure and he is leaving his wife behind. He tells his wife not to worry because he will always return this is why this poem is many times related to a compass. In the poem, A Valediction: Forbidding Mourning, it mentions, â€Å"Our two souls therefore, which are one, Though I must go, endure not yet, A breach, but an expansion† (Lines 21-23). John Donne was saying from this quote, that even though the husband has to go on an adventure he will always come back. It means that no matter how far he is away from his wife he will always be connected to her and he will never leave her. Just like a compass, he can’t make the circle wit hout the leg to keep the compass grounded. Just like His wife keeps him grounded and he can’t do anything without her. This poem is an amazing love poem and has a deep meaning to it. I believe that every relationship should form around this poem. In conclusion, the texts, Beowulf, Morte D’Arthur,Show MoreRelatedBeowulf Is The Longest Epic Poem1316 Words   |  6 PagesBeowulf is the longest epic poem written in Old English. The story centers around the exploits of Beowulf, a heroic warrior known for his strength and bravery. The theme of heroism is prevalent throughout the poem through the use of conflict between good and evil forces. Beowulf is often engaged in selfless conquests in the pursuit of saving others, resulting in his emergence as the hero of the story. The text, while focusing on the main theme of heroism, is divided into two main parts, Beowulf asRead MoreThe Epic Of Beowulf By William Shakespeare935 Words   |  4 PagesWhat comes in your mind when yo u hear the word Heroism. Does a knight in shining armor pops up in your mind or maybe a firefighter who s willing to put down his life for the good of others , well Beowulf was both. In the novel Beowulf , to me, the main theme of the entire story is heroism. Beowulf is your knight in shining armor or your fire fighter who goes into a living hell to save a kitten. Heroism is scattered all over this epic poem. Sure paganism and christianity are in it as well as goodRead MoreEpic of Beowulf Essay1106 Words   |  5 PagesThe 8th century epic poem Beowulf illustrates a loss of community, cultural values and tradition. On the other hand, an elegiac passing of an extraordinary hero and the relationship between the themes of mortality and heroism are well discussed in Beowulf. Beowulf’s character exemplifies the Germanic and the Anglo-Saxon ideals of the hero: strong, fearless, bold, loyal, and stoic in the acceptance of fate. Despite his lack of humility, Beowulf was the defi nition of a hero in his own time by hisRead MoreHeroism in Beowolf and The Canterbury Tales1032 Words   |  5 Pages Heroism Heroes are found in every work of art. Whether it is in the television shows we watch, the movies we go to see, the poems and stories we learn about, the books we read, there is always someone or something defined as the hero of that piece. Is the hero always the good guy who defeats the evil? Or is it something more, something more meaningful. Not every story line has a good vs. evil and not every story has a defined l hero, but does that mean there is not heroism in those works? HeroismRead MoreBeowulf Is The Longest Epic Poem1239 Words   |  5 Pages Beowulf is the longest epic poem written in old english ever published. The composition centres around the exploits of Beowulf, a heroic warrior known for his strength and bravery. Themes of heroism are prevalent in the famous piece of literature in relation to its noble protagonist. The poem follows an adventurous plot containing conflict between both good and evil forces. Beowulf is often engaged in selfless conquests in the purs uit of saving others from evil forces, resulting in his emergenceRead MoreTheme Of Heroism In Beowulf1139 Words   |  5 Pagesâ€Å"Beowulf† is the oldest surviving poem in Old English Literature. It is an epic poem, which is a narrative poem typically revolving around heroism. The poem emphasizes repetitively on how Beowulf is a hero. He saves countless people from countless monsters, three of which are the main antagonists in the poem – a demon, the demon’s mother, and a dragon. But is saving innocent lives the only factor to justify and determine a person’s heroism? Throughout the story of Beowulf, the author makes appealsRead MoreComparing Beowulf And The Anglo Saxon Epic Poem Beowulf972 Words   |  4 Pagesare necessary? In the Anglo-Saxon epic poem Beowulf, vengeance plays a central role in the actions of the characters. Beowulf is set in a Scandinavian society that places a heavy emphasis on righting wrongs and avenging others. A warrior who co mes in aid of his fallen kinsmen is often regarded as a hero, and it is clear from the poem that combating those who have wronged you is a favorable action. Does this make vengeance a necessary element of heroism in the poem? This question cannot be answeredRead MoreCharacteristics Of Gilgamesh1021 Words   |  5 Pagesshowed his heroism is the, fight to find immortality. When Gilgamesh found it he thought about other people that could benefit from it. He did not yern to keep it for himself, but share with everyone else. In the majority, kings would have kept the secret of immortality to their selves, but Gilgamesh did not. He showed that he could put his people first and that is what you need when you have a King: individual who will put others before themselves. Beowulf is another example of heroism. Some peopleRead MoreBeowulf Is a Hero Essay877 Words   |  4 PagesBeowulf Essay Every epic hero possesses certain heroic characteristics. The epic poem Beowulf describes the most heroic man of the Anglo-Saxon times. Beowulf is the hero. He shows that he is a great man by always putting other things before his own needs. He is important and needed by his people and is known by many as a strong, courageous and a helpful person. He shows all of the qualities and traits that a true hero possesses. Beowulf, like other epic heroes, possesses the following heroic qualities:Read MoreTheme Of Heroism In Beowulf1544 Words   |  7 PagesBeowulf demonstrates the qualities and traits of being an ideal hero. In the poem it explores Beowulf ‘s heroism in two distinct stages which are youth and age. Beowulf has three separate and very difficult conflicts that involve Grendel, Grendel’s mother and the dragon. When you are viewing these major encounters with the three different people Beowulf demonstrates the importance of heroic code. There is a much clearer division between Beowulf’s adolescent heroism as a warrior as well as in ones

Exercise in Identifying Sentences by Function

In terms of their function, sentences can be classified in four ways: declarative (making a statement)interrogative (asking a question)imperative (expressing a request or command)exclamatory (expressing strong feelings) This exercise will give you practice in identifying these four functional types of sentences. Practice Identifying Sentences by Function Identify each of the following sentences as declarative, interrogative, imperative, or exclamatory. When youre done, compare your answers with those on page two. How beautiful a street is in winter! (Virginia Woolf)Have the skillet hot and keep it well greased. (Ernest Hemingway)We boarded our train with feelings of unbounded relief. (James Weldon Johnson)Each cell measured about ten feet by ten and was quite bare within except for a plank bed and a pot of drinking water. (George Orwell)Where were the blackbirds? (Richard Jefferies)Always obey your parents, when they are present. (Mark Twain)The house was so big that there was always a room to hide in, and I had a red pony and a garden where I could wander. (W.B. Yeats)Even now, the sight of an old, six-inch, worm-eaten cork brings fragrant memories! (Samuel H. Scudder)Why does a funeral always sharpen ones sense of humor and rouse ones spirits? (George Bernard Shaw)And whom should we see in the evening, but our two little boys, walking on each side of a fierce, yellow-faced, bearded man! (William Makepeace Thackeray)How can any deny themselves the pleasure of my company? (Zora Neale Hurston) He was exceedingly poor, wearing only a ragged shirt and trousers. (James Huneker)Quietly go in, sit down, look at your man until you have seen him enough, and then go. (H.G. Wells)I looked tired, but my complexion was good. (Emma Goldman)Not a man in London made a better boot! (John Galsworthy) Answers to the Exercise exclamatory sentenceimperative sentencedeclarative sentencedeclarative sentenceinterrogative sentenceimperative sentencedeclarative sentenceexclamatory sentenceinterrogative sentenceexclamatory sentenceinterrogative sentencedeclarative sentenceimperative sentencedeclarative sentenceexclamatory sentence

The Art Museum s Gallery 7 - 1433 Words

On Saturday, October 22nd I made the hour and a half trip to the Legion of Honor in San Francisco. Upon arriving I could see the tall ivory pillars surrounding the entrances of the museum, a reminder of the Neoclassical age in art history evident in 18th century Europe. Figures Amongst Ruins (Ruins with Sybil) is a 25.5 inch by 19.5 inch painting (â€Å"Figures Amongst†) that hangs in the far corner of the art museum s Gallery 7. It’s calming colors and stunning depiction of decayed ruins captures my attention. The history for Ruins with Sybil increases the value of its power of captivation. Giovanni Paolo Panini, the painter of Ruins with Sybil, was born in Italy in 1691(â€Å"Panini, Giovanni Paolo†). He originally worked as a fresco painter and architect, but later became known for oil canvas paintings like Ruins with Sybil where he would paint capriccio and veduta paintings of ancient roman ruins to sell to tourists on the Grand Tour (â€Å"Panini, Giovanni Paolo†). Ruins with Sybil, which was made in 1731, is an example of one of his capriccio paintings. Elements seen capriccio paintings are partially based on actual places but incorporate imaginative elements (Stokstad and Cothren, 915). These pieces were an important part of history because they acted as visualization of the values at Panini’s time. The Grand Tour was a way of expanding cultural knowledge. For Panini to produce pieces of art based on ancient Roman and Greek ruins for these tours is a prime example of theShow MoreRelatedWhere Are The Great Women Artists?1559 Words   |  7 Pagesdifferent kind of greatness? Or, as the feminist art historian Linda Nochlin suggests in her ground-breaking article Why Have There Been No Great Women Artists?, there are no great women artists; no female version of Picasso or Van Gogh, because they simply haven’t been allowed to be great. Throughout history women have been seen as the exception to the rule that artists are men. 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It is proposed to show that the ethos of European colonial expansion largely defined and classified Benin art and dictated how it should be interpreted and displayed when first seen in European museums. It will also show that the regrettable way the Benin bronzes were acquired in 1897, stripped them of their context, function andRead MoreThe Metropolitan Museum Of Art1458 Words   |  6 PagesCountless art has been sought-after throughout history. Explorers, scientists, art collectors, politicians, and entrepreneurs from Western nations have sought out and removed art from the lands of great civilizations, often with the assistance and participation of local people and governments. Even as cultural property faces immediate danger today in conflict zones like Syria and Mali, there is circumstantial evidence that some nations are awakening to the political and foreign policy benefits thatRead MoreEssay about Architect of the Modern Age1219 Words   |  5 PagesFrank Gehry is a world renowned architect known for several important buildings such as the Guggenheim Museum Bilbao and the Walt Disney Concert Hall. He was born in Toronto Canada February 28, 1929 but moved with his family to Los Angeles, California in 1947(1). Gehry attended the University of Southern California and graduated in 1954 with a degree in architecture (1). In 1962, he established his own architectural firm in 1962 now called Gehry Partners, LLP (1). In the beginning, Gehry used theRead MoreThe On Art World And Class Structure1648 Words   |  7 Pageseconomic power affect art. By voluntary means, we produce, trade, buy and sell our products that would benefit us in various ways. Economic power allows people to exploit their resources in a free market. It has the ability to help others successfully reach prosperity. Some philosophers claim economic power has a huge impact on art, whereas other philosophers express a different opinion. Davis and Freeland believes economic power influences ar t, but Todd disagrees. 9.5 Theses on Art and Class introducesRead MoreThe Art Nouveau And The Art Movement1154 Words   |  5 PagesAn art movement inspired by nature, it’s vital force and never changing life cycle of birth, life, decay and death. The Art Nouveau became fashionable from about 1890 to the first world war. This aesthetic new art movement was concerned as new, hence it was named as â€Å"new art† – the Art Nouveau. It was also highly influenced by the Japonism, given a major boost in France, Paris and eventually spread across world. [1] In the late 19th century every artist had a desire to be considered as a seriousRead MoreA Brief Features Of Bellagio Is A Resort, Luxury Hotel And Casino On The Las Vegas Strip1494 Words   |  6 Pagesnotable features is an lake between the building and the Strip, which houses the Fountains of Bellagio, a large dancing water fountain synchronized to music. Inside Bellagio, Dale Chihuly s Fiori di Como, composed of over 2,000 hand-blown glass flowers, covers of the lobby ceiling. Bellagio is home to Cirque du Soleil s aquatic production O. The main tower of Bellagio, with 3,015 rooms, has 36 floors and a height of 508 ft . The Spa Tower, which stands to the south of the main tower, has 33 floorsRead MoreExhibition Review – Dale Chihuly, the Halcyon Gallery Essay1663 Words   |  7 PagesExhibition Review – Dale Chihuly, the Halcyon Gallery Dale Chihuly is an American artist, born September 20th, 1941 who is known for his glass sculptures. 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Risk Management in Sanofi-Aventis-Free-Samples -Myassignmenthelp

Question: Illustrate Concepts of Risk and Risk Management of your Choosen Organisation and analyse Risk Perception and how this affects Risk Management. Answer: Company and Nature of Business Sanofi-Aventis Singapore Pte Ltd is a consumer healthcare company which was established in the year 1997 in Singapore. The organization serves residents and patients of Singapore by manufacturing generics, animal and consumer health products. The organization focuses on Research and Development and provides therapeutic solutions to customers in multiple arenas which include central nervous system, thrombosis diseases, oncology, and rheumatoid arthritis, internal medicine which treats prostatic hyperplasia, cardiovascular diseases and vaccines for viral and bacterial diseases. The manufacturing units of Sanofi-Aventis Singapore Pte Ltd are located in Japan, Continental Europe, United Kingdom and the United States. The organization is affiliated to global healthcare organization Sanofi. The vision of Sanofi-Aventis Singapore Pte Ltd is to be a diversified service provider in the healthcare industry by focusing on the needs of patients. The organization also improves the knowledge, skil ls and professionalism of employees by organization training and development programs for them. Sanofi-Aventis Singapore Pte Ltd stays focused to boost profit and sales by improving value for shareholders. The organization also serves the noble purpose of providing medical education to patients and healthcare workers of Singapore (sanofi.com.sg 2017). Description of Companys Risk Management Framework The risk management framework can be divided into a master plan of risk management. The corporate team of risk management of Sanofi-Aventis Singapore Pte Ltd develops the master plan of risk management for the organization. The Risk management Project Plan is also an important part of the risk management framework of Sanofi-Aventis Singapore Pte Ltd The management of Sanofi-Aventis Singapore Pte Ltd ensures to manage risks in an effective way. The pharmaceutical projects of the organization are guided by a model of decision making under risky situations. Sanofi-Aventis Singapore Pte Ltd adopts an analytical approach to manage risk and the risk management framework of the organization is structured well. The members of project team of Sanofi-Aventis Singapore Pte Ltd are involved in the process of risk planning. The tools of the risk management process of the organization should be adaptable and flexible (Sadgrove 2016).Sanofi-Aventis Singapore Pte Ltd adopts similar approach (sanofi. com.sg 2017). Description of Work Process and Activity Selected The R D division of Sanofi-Aventis Singapore Pte Ltd is committed to conduct biomedical research and the innovation of research and development projects of the organization focused on controlling infectious diseases. These pharmaceutical projects of Sanofi-Aventis Singapore Pte Ltd are uncertain and highly complex and a substantial amount of organizational resources are involved in these projects. Thus the risk management process for these complex projects have been quite challenging to implement for Sanofi-Aventis Singapore Pte Ltd. The projects for development of drugs have specific needs and challenges and the risk management process of an organization should address the risk (Kerzner 2013). The organization also adopts a risk management framework across all primary activities of its value chain activities which include Supply Chain Management, Operations, Marketing and RD. The work process of Sanofi-Aventis Singapore Pte Ltd adopts a strong culture for risk management. The organi zation adopts a transparent work process for managing risks. Sanofi-Aventis Singapore Pte Ltd adopts backward-looking view to analyze the types of risks. A forward looking view is adopted by the organization towards risks which are emerging and existing. The work-process adopted by Sanofi-Aventis Singapore Pte Ltd has developed a risk management framework which is in alignment with the corporate and business level strategies of the organization. The information of risk is integrated with the work process and business process of the organization which helps in effective decision making under critical situation. The risk governance and organization process of Sanofi-Aventis Singapore Pte Ltd has a well-defined structure. The responsibilities of the risk team of Sanofi-Aventis Singapore Pte Ltd are clear and the risk teams of the organization works under guidance of members of Board of the organization (sanofi.com.sg, 2017). Review of Past Incidents The Sanofi-Aventis Singapore Pte Ltd has developed relationships that are mutually beneficial among its stakeholders to communicate risks properly. The involvement of community and transparency among stakeholders enabled the organization to manage its reputational risks. The strategic roadmap of the organization adopted an integrated approach to link expectations of stakeholders and activities of the business process. The organization maintained a high standard of ethical conduct while dealing with healthcare professionals. The talented pool of healthcare professionals of Sanofi-Aventis Singapore Pte Ltd helped in the risk management process of the organization by providing insights and feedbacks about the products of the organization and conducted training programs of healthcare education for the employees of the organization. The organization has collaborated among partners, healthcare professionals and healthcare organizations to ensure greater transparency in its business process . The future of research and development of new medicines is highly dependent on a transparent business process. Sanofi is a member of The European Federation of Pharmaceutical Industries and Associations and discloses information related to the value creation of healthcare industry like educational grants provided to healthcare organizations. The organization has renewed its partnership with the World Health organization and has partnered with International Diabetes Federation and Drugs for Neglected Diseases Initiative (DNDi) to ensure innovation of medicines. The approach of the organization was aligned with the United Nations Global Compact and the Save the Children concept of UNICEF which developed the Childrens Rights and Business Principles (sanofi.com.sg 2017).Sanofi-Aventis Singapore Pte Ltd ensured to manage risk effectively by making data of clinical trial available to the research community. This sharing of information has helped the research community of the organizatio n to improve public health, to conduct innovative research in medicine and science and to increase the level of knowledge and enhance trust among community members for the development of pharmaceutical drugs. The organization focused on five commitments which included sharing of data with researchers, enhancing access to Clinical Study Information among public, sharing of results with patients who participated in clinical trials, strengthening commitments to publish results of clinical trial and certifying the procedure of sharing the Information of Clinical Trial. The organization adopted an effective risk management framework to manage potential risks. Hazard-risk Identification The manufacturing divisions of Sanofi-Aventis Singapore Pte Ltd use a large amount of chemicals especially organic chemicals to manufacture medicines at bulk for customers. Thus the risk of accidents in the manufacturing units is a potential hazard identified by the organization. The employees of the organization are also exposed to health hazards in the manufacturing units. The drug manufacturing process of Sanofi-Aventis Singapore Pte Ltd has a complex framework and involves hazards related to off-site and on-site environmental overheads. The emission of green house gases and generation of wastes are environmental hazards that are involved in the manufacturing and packaging of medicines. The medicines developed by the organization can pose hazards related to health of patients if the medicines are not clinically tested before launch. For a consumer healthcare company like of Sanofi-Aventis Singapore Pte Ltd the identification of hazard-risk is of paramount importance because the or ganization is responsible for developing life-saving medicines for patients. The implementation of safety procedures, proper monitoring, control and surveillance and abiding by healthcare standards can minimize the hazard-risks of Sanofi-Aventis Singapore Pte Ltd (Glendon, Clarke and McKenna 2016). Risk Analysis and Evaluation The risk analysis is the process of identification of and management of potential problems that can affect the business process and projects of an organization (Lin, Wen and Yu 2012). In the process of risk analysis the identification of potential threats and the likelihood of occurrence of these threats are required to be analyzed (Lam 2014). For proper risk analysis of Sanofi-Aventis Singapore Pte gathers information about financial data, forecasts of the market, project plans and security protocols that are functional across various divisions and departments of the organization. The risks of Sanofi-Aventis Singapore Pte Ltd can be categorized into operational risks like disruption of supplies or failures in the process of distribution. The procedural risks of the organization include failures of internal systems and failure of accountability. The financial risks of Sanofi-Aventis Singapore Pte Ltd include inadequate supply of funds and stock market fluctuation(sanofi.com.sg 2017). The risks related to Research and Development (RD) projects of the organization are issues with quality, improper allocation of resources, inadequate funding and failure to complete the projects on time. The risks related to human resource management are inability to maintain a talented pool of human resource and crisis related to diversity, communication gap, discrimination, biases and stereotypes. The market-related risks of Sanofi-Aventis Singapore Pte Ltd include risks associated with inaccurate prediction of market demands and consumer needs and risk related to loss of reputation in the marketplace. The organization is also susceptible to risks of macro environment like changes of public opinion, tax barriers and government policies and risk associated with natural disasters. The risks of the organization can be estimated by determining the risk value which is multiplication of cost of event and probability of event (Hoyt and Liebenberg 2011). A consumer health company has the responsibility to provide life-saving drugs to patients. Delay in supply of the drugs can lead to adverse consequence like loss of life of patients which is a potential risk that can be identified. There are risks associated with the Research and Development projects of Aventis Singapore Pte. Ltd like risk related to prioritization of projects, allocation of resources in the projects, budget related risks and risks associated with the technology which support the projects. Research and innovation is the core competency of Aventis Singapore Pte Ltd. Thus partnering with a talented pool of research partner is essential to ensure new product development and improvement of existing products. The process of clinical trials and testing of medicines involve risks and hazards and the medicines cant be commercialized unless they undergo a robust clinical testing procedure (Lawrence et al. 2014). The commercialization of medicines of Aventis Singapore Pte Ltd are subjected to risk of the mark etplace like laws and regulations of the country of operation, competitive pricing of medicines so that patients can avail medicines at affordable price , the risk related to prediction of demands of the marketplace and risks associated with development of new marketplace. The supporting activities of the value chain of Aventis Singapore Pte Ltd like the Human Resource management, Infrastructure and Information Systems are also subjected to risks. The organization can face risks related to unfair accounting practices. Ineffective corporate governance can lead to risk of fraudulent accounting practices which can tarnish the reputation of the organization (Mikes and Kaplan 2013).Aventis Singapore Pte Ltd is a global organization and thus is vulnerable to risks associated to ineffective management a cross-cultural global team. The management of diversity in a cross-cultural team which includes both surface level and deep level diversity is essential to mitigate the risk of biases, ster eotypes and discrimination which are potential risks faced by cross-cultural teams(Garavan 2012.) The management of such risks is essential with adoption of an open communication model and development of a organizational wide culture in favor of diversity. The organization should manage risks associated with its supply chain by ensuring to partner with reputed suppliers, using multimodal transport system and centralizing its supply chain (Tang and Musa 2011). It is essential to manage the risks of the organization. The risks of the organization can be managed adequately by avoiding risks, sharing risks and accepting risks (McNeil, Frey and Embrechts 2015). The risks should be evaluated by ranking the risks according to the probability and consequences of the risks (Hopkin 2017). Review of Good Practices and Safety Technologies Sanofi-Aventis Singapore Pte Ltd focuses on adopting safety practices across all its manufacturing division. There are many environmental risks involved in the process of manufacturing, packaging and distribution of medicines. Sanofi-Aventis Singapore Pte Ltd aims to minimize environmental risks like emission of green house gases and generation of wastes which are associated with its manufacturing divisions across the globe. The employees of the organization are robustly trained about the local laws of the countries. Sanofi- Aventis Singapore Pte Ltd is a global organization and operates in several countries across the globe. Thus, the familiarity of its employees with local laws and regulations enables employees of the organization to adapt to different consumer market related risks. Sanofi-Aventis Singapore Pte Ltd priced its medicines fairly and competitively to minimize risks from competitors (sanofi.com.sg 2017).The Research and Development team of the organization focuses on de veloping medicines after studying the needs and requirements of customers based in Singapore and across the globe. The quality and safety team of the organization is focused on surveillance of its products (Mollah, Baseman and Long 2013).Sanofi Aventis Singapore Pte Ltd is dedicated to comply with standards of occupational health and safety across all activities of its value chain. The organization conducts clinical trials to ensure that medicines are properly tested before they are commercialized in the marketplace. The supply chain process of Sanofi- Aventis Singapore Pte Ltd ensures that medicines are available to the customers at the right time and right place. To avoid risks in the Supply Chain Management process, the entire process of supply chain activities should be centralized and modern technologies like Supply Chain Management software should be implemented to ensure smooth flow of supply chain activities (Ho et al. 2015). Sanofi-Aventis Singapore Pte Ltd has suppliers an d distributors across the globe and the intermodal transport system of the organization helps to handle risks associated with the logistics management. The centralization of the supply chain management process also enables to predict the demand and supply factors of the marketplace accurately so that the Bull-Whip effect of the supply chain is reduced (Sodhi, Son and Tang 2012). Sanofi-Aventis Singapore Pte Ltd also practice fair accounting practices and the sustainable accounting practices of the organization ensures to create profit for shareholders as well as creates long-term value for stakeholders (sanofi.com.sg 2017) Conclusion It can be concluded that identification of risks are of paramount importance for an organization. The risks of Sanofi-Aventis Singapore Pte Ltd are of several types like risks related to R D projects, risks associated with Supply Chain Management and operational activities, risks related to finance, accounting, human resource and marketplace. The risks of an organization should be quantified by determining the value of a risk. After evaluation of risks, proper strategies should be adopted to manage risks. The risks of Sanofi-Aventis Singapore Pte Ltd should be accepted, avoided or shared. The impact of a risk can be reduced by taking preventive action. The activities which involve high risks should be experimented on a small-scale under a controlled environment. The preventive actions that are undertaken by Sanofi-Aventis Singapore Pte Ltd are training workers of manufacturing units about material handling, health and safety to handle hazards related to manufacturing and packaging of medicines. Sanofi-Aventis Singapore Pte Ltd adopts a robust and structured framework for risk management. Recommendations of Risk Treatment The risks of Sanofi-Aventis Singapore Pte Ltd can be treated in three ways. The first method that can be suggested is to avoid the risk; the organization can do so by avoiding highly risky business ventures. A What If Analysis will be essential for the organization to analyze the advantages and disadvantages of a risky venture. The risks of Sanofi-Aventis Singapore Pte Ltd can also be shared with third parties and teams and people of partnering organizations. The organization should accept risks when there is no option available to prevent the risks or mitigate the risks. Sometimes the cost of insuring against a risk is more than the loss associated with a risk. An impact analysis should be conducted to understand the consequences of the risks. A contingency plan should be developed by the organization for coping with the consequences of risks. In a global organization like Of Sanofi-Aventis Singapore Pte Ltd there should be several partners for procurement of raw materials and distribution of medicines, the supply chain management process should be centralized and upgraded by installation of modern software and a multimodal transportation system should be adopted to mitigate the risk of not supplying life-saving drugs to patients in proper time. It can be recommended that Sanofi-Aventis Singapore Pte Ltd should adopt detective measures like installation of sensors to identify defects of products, double-checking of financial reports and preventive action like fire-wall protection on corporate servers. It is recommended that the organization should adopt an innovative human resource policy to ensure there is availability of a talented pool of resources for Research and Innovation, and transparency, flexible structure, open communication and support from organizational leaders can help in managing risks related to cross-cultural diverse teams. Reference Lists Garavan, T.N., 2012. Global talent management in science-based firms: an exploratory investigation of the pharmaceutical industry during the global downturn.The International Journal of Human Resource Management,23(12), pp.2428-2449. Glendon, A.I., Clarke, S. and McKenna, E., 2016.Human safety and risk management. Crc Press. 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