Bank of Canada Monetary Policy

On the contrary to the policies of the United States, material about Canada’s monetary policy was easily accessible on the Bank of Canada website, straight-forward and easy to understand. It’s clear that their target audience is the average Canadian citizen. They didn’t give the ‘run-around’ so- to- speak, of what their main objectives are, and much of it was watered down so that anyone could comprehend it. The Bank focuses on keeping inflation low, stable and predictable in order to encourage long-term investments for citizens to contribute to lasting economic growth, the creation of jobs and increased productivity – which will ultimately improve standard of living. This strategy is encompassed by the inflation control target that was adopted by the Bank of Canada in 1991, which sets a control range of 1-3 percent, ideally with a 2 percent midpoint. And, looking at historical statistics since its inception, the Bank has been able to maintain this control effectively. For example, inflation rate for 1Q 2013 was 1. 3%. According to the Bank, this monetary policy is implemented by influencing short-term interest rates which is done by raising or lowering the target for the overnight rate. In the end, a reduction in the policy rate, or easing of monetary policy, can be expected to boost total demand for Canadian goods and services, and vice versa. In addition to this, another goal for the Bank is maintaining flexible exchange rates – which they consider best suited for achieving their inflation target. The floating Canadian dollar provides an exchange rate buffer which allows the economy to absorb and adjust to economic shocks it may encounter. Though additional factors like exchange rates and unemployment seem to be important to policy makers, they are not focused on as intently as inflation and little information is available in regard to them. Their thinking is that monetary policy cannot have a systematic and sustained effect on any other variable, thus making it senseless to adopt any other long-term targets. It seems apparent that the Canadian policy strives to remain â€Å"forward looking† in a sense. The Bank places much of its emphasis on long-lasting shocks to the economy, rather than those believed to be short lived. By attempting to keep inflation close to their target, they consider themselves better able to respond to changes in the economic environment in such a way to avoid situations of excess demand or upply. Thus, pressures of inflation rising or falling are kept to a minimum. There’s much argument surrounding whether or not Canada’s policy is really that good or if they have just been lucky over the years. Volatility has increased in the Canadian economy over the years, however, they believe that their â€Å"exceptional† economic performance was the result of an even greater imp rovement in monetary policy and the policy offset the volatile environment, resulting in greater macroeconomic performance. It’s especially important to the Bank to remain credible to the Canadian people by being open and clear about their policy choices. They feel that this credibility keeps expectations to preserve future inflation close to the target and this â€Å"anchors† them to ensure that it happens. Even though Canada’s approach to communicating its monetary policy is much different than that of the United States, one could argue that they may be ‘putting blinders’ on their citizens, to avoid poor performance in other areas. Is their layman, tunnel vision approach regarding inflation control diverting the public from questioning whether or not it the best framework to utilize to drive the economy in a positive direction? The Canadian economy is still struggling to recover from the Great Recession and is trying to find ways in order to avoid the zero lower bound issue, but they put little importance communicating on how they are going to do so with the public.

Sompare and contrast two literary works Essay

The paper should be organized around your thesis (argument), which is the main point of the entire essay. When developing a thesis for a comparative paper, consider how a comparison of the works provides deeper insight into the topic of your paper (i.e., think about why you have chosen to look at these particular works in relation to one another). In your analysis, consider the relationships among the following elements: †¢Content †¢Form (e.g., short story vs. poem) †¢Style Assignment Requirements †¢Topic: Must address one of the topics in the guidelines †¢Length: Your draft should be eight to ten double-spaced pages in length (excluding title and reference page) †¢Sources: Utilize at least six scholarly sources to support your thesis (including the course text and at least two sources from the Ashford Online Library). †¢APA: Your draft must be formatted to APA (6th edition) style. Separate Title Page: Must include an original title ââ€" ¦Separate Reference Page Proper Citations: All sources must be properly cited, both within the text and in a separate reference page. †¢Elements of Academic Writing: All academic papers should include these elements. Introduction with a thesis statement Supporting paragraphs Conclusion Themes & Corresponding Works Choose only two of the works within your selected theme. Race / Ethnicity ââ€" ¦Country Lovers (Gordimer) The Welcome Table (Walker) What It’s Like to Be a Black Girl (Smith) Child of the Americas (Morales) Gender Roles / Marriage ââ€" ¦The Secret Life of Walter Mitty (Thurber) The Story of an Hour (Chopin) The Necklace (de Mauppassant) The Proposal (Chekhov) Country Lovers (Gordimer) Creativity / The Creative Process Poetry (Neruda) Constantly Risking Absurdity (Ferlinghetti) You, Reader (Collins) Death and Impermanence Dog’s Death (Updike) I Used to Live Here Once (Rhys) A Father’s Story (Dubus) Do Not Go Gentle into that Good Night (Thomas) Nothing Gold Can Stay (Frost) In Memoriam (Tennyson) Because I Could Not Stop for Death (Dickinson) Nature Wild Geese (Oliver) Dover Beach (Arnold) The Oak (Tennyson) The Road Not Taken (Frost) Symbolism of the Journey The Road Not Taken (Frost) A Worn Path (Welty) I Used to Live Here Once (Rhys)

Parents Teen Relationship

Parent-Teen Relationships Analysis Our survey was about parent teen’s relationship and how close they are with each other. We survey 100 students in our school which fifty of them were male and other fifty were female. We had 9 questions which were about who they living with and how open they are with their parents. My three survey questioners are ‘are they are closer to their mother or Father’, ‘who they are more comfortable to talk’, and ‘being more open with parents would have positive or negative effects on their relationship. ’ Question #4 The result shows that teenagers are closer to their mothers rather than their fathers. The graph shows that 77 percents of students are closer to their mother which 48 percent of them are Female and 29 percents of them are Male. Most of the teenagers are close to their mother rather than their Father because she is the one who is there and will listen to you and knows your needs, but father is at work most of the time. Mother spend a great deal of time with their children get to know them better and become more sensitive to their need. Fathers and mother interact differently with their children. Father tends to be more physically engaged and less emotional with their children than mothers are. Girls are closer to their mother because they are from same gander and wouldn’t feel comfortable to talk about their physical issues with their father. In this survey 21 percent were closer to their father because they think that they understand each other better and fell comfortable to talk about their issues. Question #5 The results show that teenagers are most comfortable talking to their mothers and friends than their fathers. The graph shows that 47 percent of students are most comfortable talking to their mother which 29 percent of them are Female and 18 percent of them are Male. However, 15 percent of them are most comfortable talking to their father which 11 percent of them are male and 4 percent of them are Female. Other 38 percent are most comfortable talking to their friends which 21 percent of them are Male and 17 percent of them are Female. Communication with their children seems to be the bridge to a good and healthy relationship between moms and their children. The most important part of communication for moms is listening. Most of the students are comfortable talk to their mother because she is the one who is there when they have problem and always listen to them. She tries to understand them and give them good advices not punish them for what they had done. Also, mother will support their children emotionally and girls are more comfortable talking to their mother about their problems and emotional stuff. Some of the boys are comfortable to talk with their father because they think that he will understand them better and knows their need as a man. Furthermore, most of the students are more comfortable talking to their friends because they are at same age and might have or had same issues and problems as they have. Other reason is that they think that their parents wouldn’t understand them and they might not have close relationship or scared of talking about something they did wrong. Question #9 Most of the students think that being more open with their parents would have positive effects on their relationship. 78 percent of the students said yes and only 22 percent of them said no. ttp://fatherhood. about. com/od/dadsandteens/a/teen_friends_2. htm Communication with their children seems to be the bridge to a good and healthy relationship between moms and their children. The most important part of communication for moms is listening. Many times moms are in too big of a hurry to speak and less interested in listening. The way to learn is to listen. Children learn from moms as well as moms learn from children. It is not al ways easy for a mom to listen in a busied life nevertheless listening is sometimes the most important. Take the time to stop and listen to what your child has to say it will be a precious moment that can be turned into a precious memory. Moms need to be consistent with children. Children learn to trust this way. A mom says something it is important to follow through with that statement. Whether it be a boundary for a child (where they can go, curfews) or a special time and day set aside for them. Consistency is an everyday thing that will go on through the life of the child. They trust boundaries that are set for them and look forward to the time they get with mom. As children grow and have ideas of their own, it is important for moms to keep communicating and listening to their children. There are different needs in children as they grow and change and it is important for moms to recognize their changes and needs with an open mind and a lot of understanding. Sometimes tough love is a hard thing to for moms but a much-needed thing in children's lives. And my mum because she's my emotional support. She's a female like me, so we talk about anything. She's there to cry to.. It's very effective. Children feel closer to parents who treat them like friends and listen to them more than those who rule by fear. When you treat your child like a friend, he/she will confide everything in you and this way can be saved from doing a lot of stuff that could be harmful for them or get them into trouble. Being a friend to your kid makes them feel closer to you, and protect them from outside influences that may be attractive but may get them into trouble.

About Yang Fudong Essay Example | Topics and Well Written Essays - 750 words

About Yang Fudong - Essay Example Just like any other works of art photography in an in-grown skill and the craftiness of photography is essential in determining the quality of a photograph. In this essay, we shall focus on Yang Fudong as the central reference in reviewing different aspects or art. In addition, we shall focus on the location; explore some details concerning the nature of photographs and why his work of art is significant. Yang is an experienced photographer whose birth dates back to 1971 in Shanghai china. Unlike some professional photographers, yang Fadong’s involvement in photography is driven by his interest in films, photographs and video. In all his works, the main focus is to realize the full power of imagery in exploring subjectivity, experience and thought. His ability to draw stylistically important details from the history of Chinese cinema is worth noting. This information is then presented in the form of open ended narratives that combine quotidian ritual with a dream and fantasy. In addition to his undisputable interest in art, yang is a trained painter with credentials from china academy of fine arts in Hangzhou (Ye Jiang, 2011, p.1). Yang has been in the art industry for a long time which explains his experience and the ability to produce quality and moving works of art. His venture into serious photography and art work started in the 1990s where he worked in the medium of film and video. Photographs and pieces of art made by yang Fudong are uniqueand stand out even when theyare put together with other pieces of art. All his works portray a high level of cinematography and clearly prove his mastery of cinematic style. Yang also appreciates the diversity of art. He believes that art is not restricted or governed by a set of rules or conditions. The freedom of expression in art is evident through the various photographs, films and paintings at UC Berkley art museum. The films have two major characteristics. They are open-ended and philosophical. This means t hat the films trigger questions that revolve around both history and contemporary life particularly in issues that affect the young people. The black and white film, seven intellectuals in a bamboo forest, which is adopted from a traditional Chinese tale-the seven sages of bamboo grove- is fantastic and a commendable work of art. He uses a romantic framework cautiously and courteously to preserve Chinese contemporary values to examine the societal and organizational structures in china today. In this piece of art, yang examines china through the eyes of young urban intellectuals and tries to establish their thoughts and feelings. This portray the real potential that art has in expressing peoples thoughts, feelings and grievances or problems that affect them in their daily lives. The Nightmancometh is a single screen work which unveils in the realm of historical fantasy to adequately encompass thought and feelings through the use of immortal characters. This piece of work is very pop ular among the many film, photographs and paintings that yang funding has developed in his lifetime. In developing and presenting this piece of work yang settled for a neo-realism description rather than historical or allegorical one. This method combines current and contemporary social factors in one piece of artwork. This film is a clear expression of the fact that when historical events appear and reappear, they seize being part of history and become part of the present or future. In viewing this film, the writer is taken through a series of changing emotions and thoughts as the warrior faces different circumstances. The view is left to wonder whether the warrior will continue fighting or will quit the battle half way. Yang fundong’

Summary Article Example | Topics and Well Written Essays - 500 words - 2

Summary - Article Example luating these anomia studies to focus on the efficacy of treatment depending on moderator variables such as aphasia type, severity, therapy frequency, total amount of therapy hours and number of trained items. The effect size was calculated to represent the gains made for all participants confrontational naming tasks as follows: D= (Mpost tx-Mpre tx)/SDpre tx. Further, the unbiased effect of the study was calculated as follows: Unbiased d= (1-(3/ (4*total n)-9))*d. The pre- and post-measures were categorized within studies to evaluate moderator variables such as type of aphasia, Aphasia severity, number of sessions per week and total number of therapy hours (excluding the number of sessions). To assist control for confounding variables, the effect sizes were separated for trained vs. untrained/unexposed/unrelated words. In addition, the follow-up measures were eliminated. From the experiment that was conducted, effect sizes were based on small number of studies and frequently showed a high standard deviation. The results revealed the

One Subject Infographic Assignment Example | Topics and Well Written Essays - 750 words

One Subject Infographic - Assignment Example It is from this controversy and falasy that I decided to do research on marijuana. The study involved both qualitative and quantitative data. The main objective of the study conveyed in my infograph is that marijuana is not dangerous as it is perceived to be by most people. The data was obtained from Columbia University and survey report on National Survey on drug use and health. The data and information was presented using graphs 1 and 2 as shown below. The comparison study against Marijuana was done against group of drugs listed as narcotics, Stimulants, Depresants, Non-alcoholic drugs, Alcohol and Alcohol& other drugs. The first comparison was done to assess how many people aged 12years and above use Marijuana against other drugs like Cocaine, Illicit drugs, psychotherapeutics, hallucinogens, Inhalants, heroine. From graph 1, about 25million (23.9%) people aged 12years and above consume illicit drugs. This was followed by marijuana consumed by about 20million (18.9%). About 6.8% have mental illness disorders (psychotherapeutics) which was related to other drugs taken and not marijuana. From the graph, it can be seen that Marijuana is second preferred drugs after other illicit drugs consumed in USA. The second analysis involved assessing and validating whether the effects marijuana can cause road accidents. Under this category, the drugs were classified in groups as highlighted above to take care of many population and different drugs. From graph 2, most accidents in USA are caused by people who take drugs that fall under the category of Alcohols and other drugs. This is represented by about 23.24%. The second harmful category of drugs is from the alcohol representing about 13.64%. This was followed by multiple non-alcoholic, depressants and stimulants. Most road accidents are least caused by the influence of marijuana, as can be seen in figure 2 this is represented by about 1.83% only. I also wanted to prove further behavior of people on use

4 questions Assignment Example | Topics and Well Written Essays - 250 words

4 questions - Assignment Example Associate Justice Florentino Cuellar is new in office after he was sworn in on January 5, 2015. Also, Associate Justice Kruger Leondra assumed office on January 5, 2015 after she was appointed by the Governor on December 22, 2014. Los Angeles Superior Court operates multiple courthouses across the Los Angeles County. One of the court’s courthouses is located at 9355 Burton Way, Beverly Hills. The Beverly Hills courthouse opens from Monday through Friday. Metered parking on the courthouse venue is available at $8.00. Superior Court of California offers legal dispute resolutions programs at Santa Barbara County through online platforms (Smith 28). The County of Santa Barbara online program was established in July 1999, after the Dispute Resolution Committee was inaugurated into office. As of April 2005, the ODRP had a dispute resolution rate of approximately 83%. Sign ordinances are common in most city councils across the United States. Unconstitutionality of sign ordinances can be challenged when posting of signs fail to impede the flow of either vehicular traffic or pedestrians (Smith 24). Admittedly, posting campaign signs on lampposts and utility posts does not impede pedestrian and vehicular traffic flow in any way. Therefore, the court will consider whether the sign ordinance fails to provide free speech even when posting of the signs do not necessarily impede flow of traffic and pedestrians along the

Management and Administration Case Study Example | Topics and Well Written Essays - 750 words

Management and Administration - Case Study Example This essay will also elaborate more on the possible solutions available to solve each problem identified. Thorough explanations accompanying my recommendations will also be provided. Lack of trust within the management The Red Cross management and the subordinate staff relationship never had a strong foundation (Meyers & Young, 1996). This was due to the lack of communication and understanding among the entire staff. Consequently, every member of the staff was criticizing the management while the management criticized the junior staff. In addition to this, there were severe consequences for example some junior staff members were suspended without pay while others were relieved of their duties. Considering the factors that led to the management problem, there are various theories that different staff members have stated. The C.E.O of Red Cross known as Harold J. Becker was very uncomfortable at her position despite it being a prestigious position within the organization. Apparently, s he had decided to call it quits after she was attacked by critics within Red Cross. During the day in question, she was showing the jittery strain of the previous two months. She recalls the first time that she had commanded a huge disaster relief effort only to endure humiliation and rejection of every order she gave by the Red Cross’s 50 member board of governors. ... During these staff meetings, there should be an open forum where the people air their grievances, complaints and dissatisfaction. Afterwards, the board should hold a meeting for the purposes of sorting out the major problems aired out. Individually, the most damaging aspect as a result of mistrust is the psychological impact that produces paranoid thoughts. Recommendations The strategies recommended are several for instance developing other relationships hence gaining self empowerment. Other relationships to be developed are between the junior staff and senior staff for example the C.E.O did not have a working relationship with her junior staff hence the major reason why they were all criticizing her authority and leadership. Another recommendation is the creation of alternatives where individuals employ the principles of GRIT (Graduated and Reciprocated initiatives in Tension Reduction) (Fells, 2009). This is a strategy meant to reduce dysfunctional distrust in various levels of aut hority. Basically, GRIT consists of a series of steps meant to correct biased and distorted views, reduce tension cultivating an atmosphere of mutual trust. Resultively, this will enable a more co-operative approach enhancing effectiveness. GRIT framework once established distrust will subside as parties involved in arguments achieve a neutral ground. However, it is important to retain some retaliatory capacity. This is the ability to mount a defense should it become necessary and also build a reputation of trustworthiness through self defense by stating facts. Incompetency within the organization In a confidential memo sent to the board of governors by Healy, she had complained about the irregularities within Red Cross. She ultimately laid out the

Barbara Kruger Contemporary Art Essay Example | Topics and Well Written Essays - 750 words

Barbara Kruger Contemporary Art - Essay Example The essay "Barbara Kruger Contemporary Art" talks about the Contemporary Art of Barbara Kruger. For instance, in Your Body is a Battleground, Kruger chooses a common font style, which is strongly emphasized against a somewhat monochromatic photo of an attractive woman. However, in this particular work, the woman depicted in the photo is split down the middle, with the left side of her face exhibiting a rosy-colored, somewhat positive expression. The right side of the subject's face is shaded, in a somewhat obscured light, with the artist using a variety of antiquing processes to add further emphasis to the message Kruger is attempting to relay. Further, it is important to identify what specific message is attempting to be sent in this poster image titled Your Body is a Battleground. It is vital to realize that during the latter portion of the 1980's, civil unrest and global demands for independence were being heard around the world. From the fall of the Berlin Wall to radical changes in feminism and women's rights, it is no wonder why Kruger chose to blend contemporary imagery and the written word (usually using red as the font color of choice) to exhibit the pain, suffering, joy, and outright complexity of being a woman in modern times. Having offered this, some individuals viewing Kruger's artwork may consider her attempts at expressing feminism as being somewhat outlandish due to its simplicity. However, using simple materials, such as photography, words, and collage-inspired designs.

No Mans Land Essay Example for Free

No Mans Land Essay I tiptoe through the night, scared for even my sweat to make the slightest noise as it drips off my face and onto the ground. I am not thinking of anything at the moment but my survival and how my life will be once I am free of the Soviet grip around my wrists. My heart feels like it is breaking through my ribs and protruding out of my chest with every breath I take as I run faster and faster towards the barrier that has incarcerated me over the years. As I throw myself over the eleven-foot concrete wall with barbed wire at the top, I can hear gunshots all around, and I pray they are not intended for me. I hit the cold, hard ground on the other side, but I am not even close to being safe any time soon. I am in no mans land now. I would be better off asking for someone to shoot me than to make it out of here alive. I have only one chance. At least that is how I imagined it would have been like if I were in trapped in the tribulations of East Berlin trying to escape into the desired West Berlin between 1961 and 1989. However, it is a gray December day in 2004, and if it werent for remains of the Iron Curtain and Checkpoint Charlie, people would not be able to relive that part of history or be reminded of the dictator that destroyed so many lives. The temperature was eight degrees Celsius as the gloomy sky attempted to cough up snow onto Berlin. Before that moment I had only heard of the Berlin Wall through history books and stories. I would sit and listen to travelers tales told by my courageous father who had walked through Checkpoint Charlie and into East Berlin in seventy-five. He told me how he had to exchange West Berlin money into East Berlin money at Checkpoint Charlie before entering East Berlin. Then going back into West Berlin he had to drop it in a rusty tin can at Check Point Charlie because you were not allowed to keep East Berlin money. He witnessed two tourists getting assaulted by the guards for trying to smuggle East Berlin money into West Berlin. My only expectations of Berlin came from the adventures of my dad. I expected Checkpoint Charlie to be a barricade miles long with tollbooths that have the arms that swing up and down. Similar to the tollbooths that run across the freeways of really large cities, or at the airports you go through after short-term parking. Once you pass through the chomping arms of the tollbooths I imagined East Berlin to be scattered with desolate buildings and run down streets. But as I approached the once controlling wall and Checkpoint Charlie I realized nothing was as I imagined it at all. It was like walking down any other street in a big city. A few people who were always pushing their way through the gaps that opened up between the wandering men and women, obviously in more of a hurry than anyone else on the street. Christmas lights clung to the tall buildings that ran down the streets of Berlin. People popped in and out of the busy stores, squeezing their last bit of Christmas shopping in before the Holiday. Suddenly the bustle of people slowed like a murmur in time as I stood right before the Berlin Wall and Checkpoint Charlie which are now surrounded by the commercial buildings of downtown Berlin. My gaze dropped to an engraved brick in the ground that now serves as a commemorative plaque for the Berlin Wall. A chill ran from the tip of my toes all the way to the ends of my hair as I realized how lucky I was to be standing right there in no mans land. I can now speak of the Berlin Wall, not as hearsay from a history book, but as a memory. No mans land, a memorial now, is where 171 people who attempted to escape into West Berlin were shot, and left to bleed to death like a deer on the side of the road. This area contained walls on either side with mines and stern East Berlin guards to make it almost impossible to escape. As I stood in the middle of no mans land facing East Berlin, I looked over my left and my right shoulders only to see black, wooden crosses a little taller than I am. The crosses looked as if snow had only given them the pleasure of its company and nothing else around them, when really it was just white sand covering the ground. I took a deep breath in as if I was trying to swallow it into my memory, making sure to keep it forever. I am motionless. Where the median strip of the road would have been, an American soldiers somber picture was enlarged and hoisted up on a pole staring out towards West Berlin. On the opposite side was a Russian Soldier keeping close watch over East Berlin. Below the soldiers pictures was Checkpoint Charlie. Wilted flowers surrounded this one room shack that once controlled the passage of people from East to West Berlin. Now it also stands as a memorial for people who died crossing over into West Berlin. On either side of me, there were remains of the wall still standing. I got an eerie feeling as I stared at them. My sense of time was completely altered. There I stood at one of the most historical sites imagining what it would have been like to be boxed in by a concrete wall that was suffocating you more and more each day. But when I looked around I was in the middle of one of the largest cities in Germany. It was like time slowed when I was walking through no mans land, but everything else around no mans land and Checkpoint Charlie was full of life. I was in my own little bubble. I walked about a block and returned to the normal noises and the packed sidewalks of what use to be the Soviet controlled East Berlin. My view of Berlin has been altered for the better, with a greater understanding of the saying seeing is believing.

Standard Chartered Bank in India Analysis

Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B Standard Chartered Bank in India Analysis Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B

Hr going green- switch to paperless office

Hr going green- switch to paperless office Objectives Investigation into successful and failed implementations of the paperless office idea. To assess the cost savings for the HR department. How much can be saved? Will the costs outweigh the benefits? SWOT analysis of paperless office softwares. Analyse current practice HR Going Green- Switch to Paperless Office The term ‘paperless office, refers to an electronic documentation management environment which provides an alternative to the work flow and storage issues associated with paper files. It was initially used in 1975 as a concept of ‘The Office of the Future. At that time organizations were anticipating the scenario in near future where offices will transform into a complete paperless environment. It is important for the management practices in present millennium to recognize the potential of a paperless office and its future implications. Multinational organizations around the world now realize that the major differential factor in the global competitive world is the technology innovation. Since the advent of new millennium, this dream of a ‘paperless office is partially realized by the usage of electronic documentation systems. However the practice of electronic applications is not utilized to the full extent and more advanced document management soft-wares are requi red for office management (Sellen and Harper, 2001). Cost Effectiveness: One of the major duties of HR department is to identify practices which save organizations costs. With the implementation of a ‘paperless office, HR and finance department will experience a visible reduced cost of printing, mailing, storing and shipping documents. Therefore the companies operating in the modern corporate environment will consider paperless office implementation. Time will be saved, which is generally wasted for searching lost files. Accessing information independent of ones location and timing goes a long way in cutting the organizations costs (Farson, 1996). Bills and document generation will take less time. Departments can interact with each other by circulating e-memos. Officials can even operate from their homes if organizations develop satellite offices. In addition, the paperless office provides an opportunity for organization to realise some profit as the storage and retrieval of electronic documents is instantaneous. This is because; a substantial amoun t of time culminating into an average of $50 is lost where employees search for information from paper documents. Outsourcing is one aspect that has saved a number of organizations from crumbling. With numerous workloads coupled with deadlines that are to be met, the incorporation of a paperless office has been the saviour of institutions as it reduces operational costs as well as other fundamental resources while able to meet their target within the stipulated time. This opportunity has been made available with the inception and operation of the paperless office in most organizations (Muto Muraito, 1999). Soft wares available for processing data and information provide a variety of tools as input sources (Gordon, 1998, p. 199). An example of this is the Voice Recognition Software which has a voice recognition tool sensitive to ones voice. Information is thus effectively and easily processed saving on secretarial workload that translates into valuable time lost from typing. Typos errors are also minimised with the use of this tool. Document Management Software-SWOT Analysis: Strengths: They are less costly for HR than intensive labour management. Purchasing the available software for record entry, documentation as well as storage is cheaper. Furthermore, computers do not require intense supervision neither are they exposed to effects of huge workloads such as tiredness which is a common scenario in labour intensive institutions. They are able to process large amounts of data with little supervision thus cutting down on the number of employees while maintaining high quality and quantitative productivity (Ravens, 2002). These soft-wares efficiently and effectively manage e-documents. Such documents are easily processed, sent to and retrieved by individuals in need of them. This saves on paper as required documents such as forms can be filled electronically and sent to desired destinations. Such include; e -mails and e- memos (Alberto, 2007). They make sharing of files easy in organizations, better security of important document and proper maintenance of archives. Vital information lost in documents lost or misplaced due to poor handling by individuals is secured through available software. These soft wares are also able to copy information which can be easily accessed by various persons within the organization. Generates valuable office space. Renting office space has recently become an expensive undertaking. Designing mechanisms to generate valuable space has become a common trend by organizations with some opting to pull down walls. Embracing paperless office which is made available by various soft wares is one mechanism that organizations would use to address the aforementioned issue (Sellen and Harper, 2001). Weaknesses: The document management soft-wares may lack certain features which may not be applicable for all kinds of documents. Different documents require different features for both their development and usage. Without such features, it may be difficult to develop a specific format necessary for a specific type of document (Alberto, 2007). HR should realize that it is not possible to become totally ‘paperless. There may be some customers who will prefer ordering via memos. Attending to and satisfying a clients needs, are goals that play vital roles in the continuity of entities. To achieve this, an organization hence needs to be flexible in its approaches. Considering giving memos to some clients should therefore be taken into account. The collapse of backing system of files may result in the loss of important data. Machines are prone to collapse due to various reasons. This is inevitable therefore the only option left is to take advantage of alternative strategies such as back up. The back up system is still not a viable option as it may still be affected hence increasing the susceptibility of information to loss (Gordon, 1998, 205). Opportunities: These soft-wares are environmental friendly and can play a vital role in combating deforestation. Paperless office cuts down on the demand for paper which is mostly made available through deforestation. The effects of deforestation on the global environment have been adverse and consequently affected the survival of humans and other organisms on the planet. Reducing demand for paper is therefore a practical action towards reversing these effects with far reaching impacts on the survival of various species (Farson, 1996). The availability of optic fibre and satellite technologies would play fundamental roles in the paperless office industry. This would ease and fasten transmission of relevant documents to larger populations including those in remote locales. The fact that computing is taught in academic institutions is an encouragement. This would reduce training expenditures on new employees hence saving on costs. The new generation is also exposed to other electronic tools with computer features. This would play a big role in changing their perception of ‘super paper (Alberto, 2007). Currently, it is easier to obtain computers and soft wares due to the mushrooming of computer and software manufacturing industries in the world over. The initial capital of investing in these machines would therefore reduce owing to their increased supply. This would cater for large institutions with a high turnover of employees as most or all would be able to access computers for their needed functions (Muto Maurito, 1999). Sharing ideas through e-mails and e-memos is one aspect that would contribute to the growth of organizations. The implementation of laws and regulations on digitized information is a stepping stone towards increased adoption of the paperless office. This is supported by the Implementation of the Government Paperwork Elimination Act in the United States (Alan, 2003). Threats Increased manufacturing of upgraded computers which replace obsolete ones result in increase in e-waste. Little research has been done on disposal mechanisms of this non-degradable waste which would further affect the state of the environment. The human perception on paper. Despite reducing the utility of paper, most individuals still perceive the legality of paper documents. This is due to the fact that features such as original signatures define the legality of certain documents. Computer hacking and the effects of computer related viruses are setbacks of the paperless office. These contribute to increased vulnerability of documents to loss as well as reduced confidentiality of information (Weighright, 2000, pp.6-10). In order to analyse the current scenario, Canada is taken as one of the case studies. Despite most Canadians thinking green, working green has been a bitter pill to swallow. From a recent survey, paperless workplace to them is still pulp fiction. Workers print on average 30 copies, with approximately 10 pages (39%) finding their way to the waste bin. In addition, their printing habits were surveyed and shown to have increased over the past five years. Notably, workplace printing accounted for all printing activity despite the availability of technological tools that emphasize on use and storage of digital data. The ‘blue bin paper recycling program was a common policy in most companies. However, encouraging information from the survey shows that most firms were concerned about the impact of their practices on the environment and thus practices such as using electronic versions of documents were employed by companies (Ravens, 2002). In the United States, the courts of Utah are currently adopting the paperless office for purposes of storing vital information, increasing the accessibility to information including those remotely stored and saving on space (Alan, 2003). Hospitals have also embraced this following the adoption of the Health Information Systems to assist both the staff and patients. To ensure that this is successfully achieved, organizational structural changes, leadership, training and technical support, and usability have been the main focal points of these institutions. The Paperless Office despite being compared to the resource use paradox is an achievable option that would result in a complete overhaul of the negative effects of the use of paper. This however requires the incorporation of time as well as a change in the perception and behavioural patterns of people regarding the use of paper (Gordon, 1998, p.209). As evidenced from the above information, the accruing benefits far outweigh the pitfalls. References Sellen, A., Harper, R. (2001). The Myth of Paperless Offices. Boston: MIT Press. Alan, A. (2003). Utah Courts: towards paperless. USA: Sage. Alberto, B. (2007). Desktop Publishing: things not taught. London: McMillan Publishers. Farson, T. (1996). Progressive Technological Applications. London: Oxford University Press. Gordon, C. (1998). Paperless Office. Aslib Proceedings, 39, 197-210. Muto, P., Maurito, P. (1999). Computer Screens: the paperless office. London: Penguin. Ravens, K. (2002). Managing the Absurd. USA: McGraw Hill. Weighright, J. (2000). The Design, Implementation and Impact of Office Automation. Personnel Review, 13, 2-12